4imprint Group PLC
22 July 2005
Press Release 22 July 2005
4imprint Group plc
Sale of Adventures in Advertising Franchise Inc by 4imprint Group plc
4imprint Group plc announces today, the sale of its USA based Promotional
Products Franchise business, Adventures in Advertising (AiA) to The Riverside
Company, a US Private Investment Group.
The Transaction Consideration was $11.3m in cash. Costs of executing the
transaction are expected to be around $1.2m.
The AiA business is the only Franchise business in the 4imprint Group. It does
not fit the Group's Strategy, which is to concentrate on its core activities of
providing products and support services for Corporate and Product Promotions,
using its 'in house' resources.
In the year ending December 31 2004, the AiA business achieved fee income of
$8.5m, generating operating profits of $1.8m. The net assets amounted to $5.9m.
While the 4imprint Group 2005 Interim Results will be announced on August 3
2005, the Group confirms in advance of this, that trading conditions in the
first half of the year have been encouraging and that operating profit before
pension charges will be not less than £3.0m for this first half year.
Commenting on the disposal, Ken Minton, Executive Chairman, said 'I am pleased
to see the sale of the AiA business to Riverside Company which already has other
franchise interests in its portfolio. The disposal allows 4imprint Group to
concentrate on its rapidly growing core businesses in both Europe and North
America, while adding substantially to its cash resources.'
For further details contact: Ken Minton 0161 786 0424
Gillian Davies 0161 786 0424
This information is provided by RNS
The company news service from the London Stock Exchange
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