Acquisition

RNS Number : 8395S

Headlam Group PLC

05 December 2012

 



5 December 2012

Headlam Group plc

Headlam Group plc ("Headlam"), Europe's leading floorcoverings distributor, announces that on Wednesday 5 December 2012, it acquired the business and assets of C. K. Davie Limited.

C. K. Davie is a floorcoverings distributor, based principally in Aberdeen, with an additional location in Dundee, distributing residential and commercial floorcoverings in the north of Scotland.

Revenue for the year ended 31 December 2011 was £3,234,000.

Total consideration payable on completion was £193,600, with a further £275,400 payable subject to the verification of fair value assets, as calculated in completion accounts and the recovery of amounts due on certain trade receivables.

C. K. Davie will continue to trade from its current locations and be further supported by Headlam's distribution network, to enhance its position in the Scottish floorcovering market.

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5 December 2012

 

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