Acquisition of Warehouse and Distribution Centres

RNS Number : 9432R

Cake Box Holdings PLC

06 March 2019

 

6 March 2019

Cake Box Holdings plc

("Cake Box" or the "Company" or the "Group")

Acquisition of Two Warehouse and Distribution Centres

Cake Box Holdings plc, the specialist retailer of fresh cream cakes, is pleased to announce that it has acquired the freeholds of two warehouse and distribution centres in Bradford and Coventry for an aggregate consideration of £1.4m. The consideration has been funded from existing cash resources.

The two warehouse and distribution centres will help support the Group's future growth, including new franchise store openings which continue strongly and in line with its plans. As at the end of February 2019, Cake Box had 111 franchise stores, having opened a further 10 since its half year end.

In addition, as set out in the Group's interim results on 28 November 2018, Cake Box intends to install some sponge production capability at the new centres which would enable the Group to reduce its distribution costs and provide a back up to its existing production facility in Enfield. 

The Group expects to give an update on trading for the year ended 31 March 2019 in April 2019.

For further information, please contact:

Cake Box Holdings plc Sukh Chamdal, CEO Pardip Dass, CFO	[phone]
Shore Capital Stephane Auton Patrick Castle James Thomas	[phone]
MHP Communications Oliver Hughes Simon Hockridge Charlie Barker Pete Lambie	[phone]

 

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