Acquisition

RNS Number : 2949B

Headlam Group PLC

02 April 2013

 



2 April 2013

Headlam Group plc

Headlam Group plc ("Headlam"), Europe's leading floorcoverings distributor, announces that on Thursday 28 March, it completed the acquisition of the business and certain assets of Hall's Floorings Limited.

Hall's Floorings, a distributor of residential floorcovering based in Edmonton, north London, is a supplier to independent floorcovering retailers throughout most of England.

Revenue for the year ended 31 December 2012 was approximately £8.2 million.

Consideration on completion was £457,000 with an additional £292,000 incurred in settling an outstanding debt. A further £150,000 will be payable following verification of the fair value of assets acquired.

The principal logistics of Hall's Floorings has been relocated and is now operational from our Coleshill distribution centre, with a service centre for customer support established in north London to preserve the autonomy and individual identity of Hall's Floorings.

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2 April 2013

 

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