Acquisition of Habitat UK Brand

RNS Number : 0648J

Home Retail Group Plc

24 June 2011

 



                                                                                           24 June 2011

Home Retail Group plc

Acquisition of Habitat UK brand

Home Retail Group, the UK's leading home and general merchandise retailer, today announces that it has agreed to acquire certain rights to the Habitat brand, one of the UK's leading contemporary home retailers. 

The rights are for the exclusive use of the Habitat brand, its brand designs and intellectual property in the UK and the Republic of Ireland.  In addition, Home Retail Group is also acquiring the Habitat UK website, three of its London stores and certain brand support functions.

The purchase price of £24.5m is being paid in cash to Habitat UK Limited (in administration).

Terry Duddy, Chief Executive, Home Retail Group said:

"The style led credentials of the Habitat brand, with its strong heritage, will be a significant addition to the Group's portfolio of own brands.  In addition to operating the three London stores and the UK website, we will introduce Habitat products across the Group including a number of concessions in Homebase stores.  We will also look to develop the online proposition leveraging the award-winning multi channel strength of Home Retail Group."

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.

Enquiries

Analysts and investors (Home Retail Group)

Richard Ashton                 Finance Director                01908 600291

Tony Newbould                 Head of Investor Relations

Media

Rollo Head                                                              020 7251 3801

 

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