Acquisition of Alba and Bush

RNS Number : 0162J

Home Retail Group Plc

27 November 2008

 



27 November 2008

Home Retail Group plc

Acquisition of Alba and Bush trademarks

Home Retail Group, the UK's leading home and general merchandise retailer, today announces that it has signed a contract to acquire certain rights to the Alba and Bush trademarks from Alba plc. The purchase price being paid is £15.25m in cash.

Home Retail Group is purchasing the intellectual property rights to the Alba and Bush trademarks for exclusive use on consumer electronics and certain other goods.  The trademarks are household names with very strong heritage which have high awareness and purchase frequency with Argos customers.  Part of Alba plc's restructuring plan was to end the supply of these branded products; however, as a result of this acquisition, Home Retail Group will be able to continue to offer these trademarks to its customers, with the financial arrangements being such that it is expected to be broadly earnings neutral for the year ended February 2010.

Enquiries

 

Analysts and investors (Home Retail Group)

Richard Ashton                     Finance Director                                               01908 600 291

Stuart Ford                          Head of Investor Relations

 

Media (Finsbury)

Rollo Head                                                                  020 7251 3801

Certain statements made in this announcement are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward looking statements.

 

END

 

 

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