Headlam Group PLC
10 January 2000
Headlam Group plc
Headlam Group plc, the leading UK floorcoverings and furnishings
distributor, announces that on Friday 7 January 2000 it acquired certain
assets, liabilities and goodwill of James Clifford and Son Limited trading
as Clifford Carpets. Clifford's, a regional floorcovering distributor based
in Kent, is situated adjacent to an existing Headlam facility. It is the
intention later this year to relocate the Clifford's business into the
current Headlam facility but to preserve the independent operations of
Clifford Carpets.
Initial consideration based on the net assets acquired was £1,350,000 in
cash, subject to a further small payment once the net assets are finalised.
As at 24 December 1999 the net asset position was £1,420,000 and annual
sales for 1999 were £5.7m.
For further information please contact:
Ian Kirkham Tel: 01604 234121
Group Chief Executive
Headlam Group plc
Northampton
Richard Mountain Tel: 0207 496 1447
Gavin Anderson & Company
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