Creightons PLC
07 March 2003
Creightons plc
('Creightons', 'the Company' or 'the Group')
Creightons is pleased to announce that it has agreed to acquire (through a
wholly owned subsidiary) the brands, goodwill and international intellectual
property rights ('IPR') of Nemesis Toiletries Limited (in Administration) on 7
March 2003.
The IPR relates to a number of branded and private label personal care products,
including the well-known name Potter & Moore. The consideration of £200,000 has
been satisfied in cash.
The Board of Creightons expects the Company to benefit from the extended product
range, and believes that the Company's turnover will receive a modest boost.
Potter & Moore is a long-established quality private label supplier. The
acquisition will enhance the Group's ability to innovatively serve major retail
customers. The two businesses will continue to run separately on a day-to-day
operational basis, ensuring continuation of existing customer and supplier
relationships whilst giving an enhanced opportunity for further product
development and service improvements.
Creightons' Executive Chairman, William McIlroy said: 'The Board is very excited
with the acquisition. It will give us the opportunity to build on both
businesses' established positions in the personal care market; benefiting our
customers, suppliers and shareholders.
'This acquisition is part of the Company's strategy to build the existing
Creightons personal care operations into a viable, profitable business,' Mr
McIlroy added.
This information is provided by RNS
The company news service from the London Stock Exchange
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