Acquisition

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
UK 100

Latest directors dealings