NWF Group PLC
17 August 2005
Embargoed until: 07.00, 17 August 2005
NWF GROUP ACQUIRES FURTHER FUEL BUSINESS
NWF Group plc, the diversified sales and distribution business, announces that
its subsidiary company, NWF Fuels Limited, has completed the acquisition of the
whole of the share capital of Broadland Fuels Ltd ('Broadland'), a private
company which trades as a fuel distribution business based in Norfolk. The
consideration for the acquisition is £650,000 in cash.
The business acquired was established in 1997 and operates from its head office
in Martham Norfolk. It has a tanker yard at Acle and operates a petrol forecourt
in Diss. Broadland currently sells approximately 25 million litres of fuel per
annum, drawing mainly from the refinery at Great Yarmouth. This places it in the
top half of current NWF Fuel depots by size.
For the year ended 31 March 2005, Broadland had turnover of £11 million and had
net assets of £186,000.
Graham Scott, Chief Executive NWF Group plc, commented: 'This acquisition
continues our stated growth strategy for our fuels business. Importantly it
significantly extends our geographic reach to the East of the Country. Norfolk
is an ideal location for a NWF business as it is a traditionally very rural
community, where there is still strong demand for heating oil and single
operated petrol forecourts.'
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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