Acquisition

RNS Number : 8530R

Comptoir Group PLC

14 December 2016

 

Comptoir Group plc

("Comptoir" or the "Company")

Acquisition

Comptoir Group plc, the Lebanese canteen specialising in fresh, healthy and affordable Lebanese dishes, is pleased to announce that it has acquired the assets of Agushia Limited from administration. Agushia Limited operates Lebanese themed restaurant under the Yalla Yalla brand.

The acquisition cost for the company is £400,000 which the Company will pay from its existing cash resources. Agushia Limited for the year ended 30 April 2016 reported audited turnover of £2.4million and a pre-tax loss of £10,000. The assets acquired had an unaudited net value of £203,691 as at 31 October 2016.

As part of the acquisition Comptoir has acquired three Yalla Yalla branded restaurants. Comptoir will continue, for the time being, to operate each of the restaurants under the Yalla Yalla brand.

14^th December 2016

This announcement contains inside information.

Enquiries:

Comptoir Group plc

Chaker Hanna                                                                      Tel: [phone]

Cenkos Securities plc (NOMAD and Broker)

Bobbie Hilliam                                                                     Tel: [phone] 

Alex Aylen

 

END

 

 

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