Acquisition

Headlam Group PLC 11 February 2002 Headlam Group plc - Acquisition Headlam Group plc ('Headlam'), the leading UK floorcoverings distributor, announces that on Friday, 8 February it acquired the trading assets of the UK floorcovering distribution business of Rikett AS of Norway. The business will be relocated to Joseph, Hamilton and Seaton Limited ('JHS'), Headlam's specialist contract flooring business. The acquisition complements JHS contract carpet business with entry to the commercial hard flooring market. In keeping with Headlam's operating strategy, the business will be operated to preserve its independent identity. Initial consideration based on the net assets acquired was approximately £260,000 subject to a further small payment once the stock as at completion has been finalised. In addition Headlam announces that also on Friday, 8 February it acquired the trading assets of Floortrade Company Limited including the trade name HBS Floortrade. The business will be relocated to an existing Headlam warehouse and distribution facility in Stockport and will increase Headlam's market penetration in the North West. HBS Floortrade will retain its independent identity, products and position in the industry. Consideration based on the net assets acquired was approximately £100,000. End This information is provided by RNS The company news service from the London Stock Exchange
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