NWF Group PLC
01 August 2006
Embargoed until 07.00, 1 August 2006
NWF GROUP PLC
ACQUISITION OF EAST ANGLIAN FUEL BUSINESS
NWF Group plc ('NWF'), the diversified sales and distribution group, announces
that its Fuels division has acquired the entire issued share capital of Browns
of Burwell Limited ('Browns'), a fuel distribution business established in 1930.
The consideration amounts to £1.4m and is being financed from NWF's existing
bank facilities.
Originally a haulier and a coal merchant, Browns was transformed in 1970 to an
oil distribution business when part of the site was converted to a fuel depot.
In the 1990s it relocated to a new site in Burwell that now acts as the
company's headquarters, from which it serves Cambridge, Newmarket, Thetford,
Bury St Edmunds and Burwell's surrounding areas. Browns supplies approximately
17 million litres of fuel products per annum.
At 30 April 2006 Browns had net assets of £975,000 and an annual turnover of
£7.4 million.
Graham Scott, Chief Executive of NWF, commented: 'We are delighted to be
widening our horizons in national fuel distribution. Browns operates from an
excellent location and is a well established business with a reputation for
customer service. The acquisition both compliments and supports our Broadlands
fuels business based in Norfolk and will enable our further expansion in East
Anglia.'
For further information please visit www.nwf.co.uk or contact:
Graham Scott, Chief Executive John West / Clemmie Carr
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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