Acquisition

RNS Number : 6607T

Mothercare PLC

01 October 2010

 



1 October 2010

Mothercare acquires 25% stake in Australian franchisee

Mothercare plc confirms that shareholders in its Australian franchisee Headline Group Limited ("Headline") have approved the acquisition of a 25% (plus one share) stake, which was announced on 16 July 2010.

Headline currently operates 6 Mothercare and 27 Early Learning Centre stores in Australia. It recently announced the acquisition of the Babies Galore and Baby on a Budget retail businesses in Australia, which now gives it a significant national store footprint.

Headline has announced its intention to convert these stores to the Mothercare and Early Learning Centre formats and it plans to develop a chain of at least 60 Mothercare and Early Learning Centre stores in Australia by 2012/13.

Headline Group Limited has made an announcement on the Australian Stock Exchange:

http://www.headlinegroup.com.au/shareholders.html 

Notes to Editors:

Mothercare plc is the leading global retailer of parenting and children's products with 1,167 stores in 53 countries worldwide, operating under the Mothercare and Early Learning Centre brands.

Headline Group Limited is listed on the Australian Stock Exchange.

Enquiries to:

Brunswick Group

Catherine Hicks /Catriona McDermott

020 7404 5959

 

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