NWF Group PLC
02 February 2006
Embargoed until: 07.00 2 February 2006
NWF GROUP PLC
ACQUISITION OF WOODFORD PARK GARDEN CENTRE
NWF Group plc ('NWF Group' or the 'Group'), the diversified sales and
distribution company, announces that its Garden Centre division has acquired the
business and certain assets of Woodford Park Garden Centre ('Woodford Park')
located to the South of Manchester, between Wilmslow and Stockport.
NWF will pay an estimated total consideration of £1.95 million, including stock
of approximately £700,000, and has entered into a new 35 year property lease
with an initial annual rent of £600,000, reviewable every five years. In the
year ending 31 January 2005, Woodford Park had an unaudited turnover of £6.4
million and profit before taxation of £595,000, and the book value of assets
being acquired was £800,000. The acquisition will be financed from existing bank
facilities.
Woodford Park has been developed over the last ten years and has grown to be one
of the UK's largest destination garden centres, winning a number of industry
awards over the years. The total site measures 9.5 acres and lies on the A5102,
the major road linking Wilmslow and Stockport.
Graham Scott, Chief Executive of NWF commented: 'Woodford Park is a very well
known and large destination garden centre, which fits perfectly with our
existing portfolio. It has been carefully developed by its previous owners and
has both an existing reputation for quality and good potential for further
growth.'
For further information please visit www.nwf.co.uk or contact:
Graham Scott, Chief Executive John West / Claire Melly
NWF Group plc Tavistock Communications
Tel: 01829 260 260 Tel: 020 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
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