Johnson Service Group PLC
12 May 2003
12th May 2003
Johnson Service Group PLC
Acquires Jeeves of Belgravia Ltd
Johnson Service Group PLC ('Johnson') announces that it has acquired Jeeves of
Belgravia Ltd ('Jeeves'), from Minit Holding BV, itself a wholly owned
subsidiary of UBS Capital BV.
Jeeves was founded in 1969 and has become recognised as 'London's Finest Dry
Cleaners'. It has a global brand name through Jeeves International in which
Johnson will now hold a 9.75% stake and also holds a Royal Warrant.
Jeeves has 12 well-located retail units in Central London and its own specialist
central processing unit also in London. Johnson intends to operate this
business separately from its mainstream Johnsons Cleaners dry cleaning activity
and invest in and expand the 'Jeeves' luxury brand.
The annualised turnover of Jeeves is some £3.7m and the estimated net assets at
the end of March 2003 were £1.7m.
David Bryant, a Johnson director said ' We intend to expand this niche business
with new product offerings, closer contact with the customer, and improved
customer service whilst strong 'back office' and technical support will be
provided by the centre.'
Johnson CEO, Stuart Graham said, 'I am encouraged by this acquisition which fits
in with our previously announced strategy of both increasing our presence in the
London market and reinvigorating Johnsons dry cleaning business. 'Jeeves' is
recognised as the premier dry cleaner, tailored to the discerning City and
Central London market. The prestigious Jeeves of Belgravia brand has quality at
its heart and we fully intend to build the business using our management and
industry experience, whilst recognising and retaining its unique position and
image in the UK dry cleaning market. The shareholding acquired in Jeeves
International is interesting.'
Notes to Editors:
Johnson is Britain and Ireland's market leader in workwear, textile rental and
the nation's leading retail drycleaners. Washroom services and the manufacture
and sourcing of workwear garments are also principal group activities.
Johnsons Cleaners, the dry cleaning business, has approximately 500 units
throughout Britain with a relatively small presence in Greater London and the
South East of England.
Enquiries Johnson Service Group PLC
Stuart Graham CEO Tel. 0151 933 6161
Hudson Sandler
Wendy Baker Tel: 020 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.