Acquisition
17 Août 2000 - 6:24PM
UK Regulatory
RNS Number:6420P
Longmead Group PLC
17 August 2000
The Longmead Group PLC ("the Company")
Longmead announces that it has entered into a supply
arrangement with Bathrooms Direct under which it will
source chrome and gold bathroom accessories from the Far
East for supply to Bathrooms Direct. Prior to this
arrangement Bathrooms Direct had undertaken the sourcing
of such products in-house. As part of these
arrangements, Longmead will acquire stock from Bathrooms
Direct for a maximum consideration of #137,000 payable in
cash.
The turnover of this business being taken on was #436,000
on an adjusted basis during the 12 months ended 30 April
2000. This included sales to third party customers of
Bathrooms Direct and it is intended that Longmead will
also take on the supply to these customers.
The benefits of the transaction to Longmead are:
- The acquisition of several additional ranges of
bathroom accessories in chrome or gold finish
available at competitive prices.
- The establishment of sources of supply in the Far East
for improving or adding to existing ranges both in
metal or other materials.
- The acquisition of a new customer base to which the
present ceramic products could be sold.
- The new ranges acquired will be available to
Longmead's existing customer base which should
generate increased sales of Longmead products.
- The operation can be accommodated within Longmead's
existing organisation with very low additional
overhead costs.
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