Loomis has divested fine art storage and logistics services
Loomis AB has, through a wholly owned subsidiary, divested its fine art storage and logistics business (“Artcare”) to Iron Mountain (Schweiz) AG. Artcare was acquired as part of the VIA MAT acquisition in 2014 and is deemed none-core for Loomis.
The divested operations had an annual revenue in 2018 of approximately CHF 5 million (equivalent to approximately SEK 45 million). Artcare has been reported as part of the International segment.
A profit on sale before tax of approximately CHF 4 million will be realized and reported as an item affecting comparability in the first quarter of 2019.
Loomis offers safe and effective comprehensive solutions for the distribution, handling, storage and recycling of cash and other valuables. Loomis customers are banks, retailers, and other operators. Loomis operates through an international network of more than 400 branches in more than 20 countries. Loomis employs around 25,000 people and had revenue in 2018 of SEK 19.2 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list.
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