Proposed acquisition of Centurian Automotive

RNS Number : 1751K

Barkby Group PLC (The)

12 December 2018

 

 The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

12 December 2018

The Barkby Group PLC

("Barkby" or the "Group")

Proposed acquisition of Centurian Automotive

The Barkby Group PLC, the consumer-focused hospitality group, is pleased to announce that it has signed heads of terms for the acquisition of Centurian Automotive Limited ("Centurian Automotive" or the "Company").

Centurian Automotive is an award winning automotive dealership with a strong and fast growing online digital presence. Centurian prides itself on its best-in-class customer experience and was recently chosen by Autotrader from 13,000 motor dealers in the UK to represent the benchmark for all dealership training, marketing and master classes.

Rupert Fraser, CEO of Barkby, commented: "Barkby is led by a highly experienced team with a successful track record of delivering value for shareholders. The Board believes that the acquisition of Centurian into our consumer-led hospitality portfolio will be highly complementary and accretive, and we look forward to completing the transaction."

The proposed acquisition is subject to, inter alia, completion of due diligence and signing of a binding acquisition agreement and therefore, there is no guarantee as to the timing of the proposed acquisition or whether it will proceed at all. Further information will be provided in due course.

Contacts:

The Barkby Group PLC	[phone]
Rupert Fraser, Chief Executive Officer
Allenby Capital (NEX Exchange Corporate Adviser and Broker)	[phone]
Jeremy Porter/Asha Chotai
Camarco (Financial PR)	[phone]
Jennifer Renwick/Jane Glover/Jake Thomas

Notes to editors 

The Barkby Group PLC currently owns and operates four highly acclaimed gastropub properties with a total of 38 hotel rooms and is focused on delivering a high-end experience in select "destination" locations. The Group's gastropubs seek to differentiate themselves by quality of food and service and upscale accommodation.

The Barkby Group PLC has an experienced team driving its growth strategy. The Group intends to develop a large portfolio of premium hospitality properties in partnership with breweries across the UK and intends to scale up to 8 - 12 sites over the next 3 - 5 years. The Group is focused on a capital light, strong cashflow model with growth driven by quick turnaround of under-performing hospitality properties and other complementary businesses.

 

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