STT Straight

 

TIDMSTT 
 
RNS Number : 3476M 
Straight PLC 
28 January 2009 
 

Date:               28 January 2009 
On behalf of:Straight plc ("Straight" or "the Group") 
Embargoed until:0700hrs 
 
 
Straight plc 
Acquisition of Harcostar Garden Products 
 
 
Straight plc (AIM: STT), the recycling products and services group, announces 
the acquisition of all the assets and trade of Harcostar Garden Products from 
Harcostar Drums Limited for a consideration of GBP400,000 in cash. The 
consideration is to be paid in two instalments: GBP250,000 to be paid 
immediately and GBP150,000 on 1 April 2009. 
 
 
Harcostar Garden Products is a long established premium brand providing water 
butts, compost bins, watering cans and accessories to the trade sector in the UK 
and Europe. 
 
 
For the year ended 31 December 2008, Harcostar Garden Products reported turnover 
of GBP1.04m with gross profit of GBP0.38m. 
 
 
The Group believes that the acquisition will be earnings enhancing for the 
financial year ended 31 December 2009. It also believes that the acquisition 
will offer considerable scope to expand and develop the Harcostar range, 
cross-sell its existing products and enable it to benefit from Harcostar's well 
established relationships and distribution channels in the UK and Europe. 
 
 
Commenting on the acquisition, Jonathan Straight, Chief Executive of Straight 
plc said: 
 
 
"This acquisition provides us with the addition of a premium brand to our 
portfolio which will compliment our existing product range. We also believe it 
will allow us to benefit from Harcostar's excellent relationships in the UK 
and Europe". 
 
 
For further information, please contact 
 
 
+-----------------------------------------------+---------------------------+ 
| Straight plc                                  |                           | 
+-----------------------------------------------+---------------------------+ 
| James Newman, Chairman                        | 07850 672 727             | 
| Jonathan Straight, Chief Executive            | 0113 245 2244             | 
+-----------------------------------------------+---------------------------+ 
|                                               |                           | 
+-----------------------------------------------+---------------------------+ 
| Panmure Gordon                                |                           | 
+-----------------------------------------------+---------------------------+ 
| Andrew Godber / Katherine Roe                 | 0207 459 3600             | 
+-----------------------------------------------+---------------------------+ 
|                                               |                           | 
+-----------------------------------------------+---------------------------+ 
| Redleaf Communications                        | straight@redleafpr.com    | 
+-----------------------------------------------+---------------------------+ 
| Paul Dulieu / Sam Robbins                     | 0207 566 6700             | 
+-----------------------------------------------+---------------------------+ 
 
 
 
 
Notes to Editors 
  *  Straight plc was established in 1993, by Jonathan Straight, to supply container 
  solutions for source separated waste. Initially one man and a desk, the company 
  grew to become the UK's leading supplier of kerbside recycling boxes as well as 
  a key supplier of other types of waste and recycling container solutions. 
 
  *  Following sustained growth, Straight joined AIM in 2003 with a view to fuelling 
  further growth. 
 
  *  In 2005, Straight acquired Blackwall Limited, the UK's largest supplier of home 
  composters and water butts. Since integrating the two businesses, Straight now 
  provides a wide range of waste and recycling solutions to local authorities, the 
  waste industry and general businesses. Through the Blackwall brand Straight 
  delivers environmental garden products directly to end users in partnership with 
  local authorities and utilities. 
 
  *  Further information about the company and its products can be found at: 
  www.straight.co.uk 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQCKOKQOBKDADB 
 

Straight Plc (LSE:STT)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024

Straight Plc (LSE:STT)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024