Acquisition
20 Octubre 2003 - 2:00AM
UK Regulatory
RNS Number:0621R
Creative Education Corp Plc
20 October 2003
Embargoed: 0700hrs Monday 20 September 2003
Creative Education Corporation Plc
("Creative Education" or the "Company")
Acquisitions
Creative Education, one of the UK's leading Pre School businesses, is delighted
to announce that its wholly owned subsidiary, Primary Steps, has made a number
of key acquisitions in the education sector, increasing its portfolio to twelve
units.
The deal sees the Company taking the operational leases of four pre-school
nurseries and one Pre-Prep School and will show, after rents, an immediate
contribution to the Company on a month by month basis. Furthermore, there will
be no dilution to the Company's earnings.
The newly acquired units will increase the Company's number of places for
children by up to 80 per cent and comprise Squirrels Day Nursery in Bedford and
Essex-based Gosford Babies Nursery, Gosford House Nursery, Gosford House
Pre-Preparatory School and Clarence House Nursery.
David Alexander, Chief Executive, commented,
"These acquisitions are a significant step forward for Creative Education in
cementing our position as a leading education business in the UK, where the
value of the Children's Nursery Market was, last year, estimated at over #2
billion. We now have places for over 400 children across our portfolio and can
offer top quality education.
We continue to identify suitable acquisition targets to further enhance our
portfolio and strengthen our position in this exciting and rewarding sector. I
look forward to the future with confidence."
-Ends-
For further information please contact,
David Alexander
Chief Executive - 020 8864 5147
Ben Simons
Hansard Communications - 020 7245 1100
Notes to Editors:
The Creative Education Corporation plc was the first nursery school business to
be listed on the Alternative Investment Market. It began trading on AIM in April
2003. Creative Education is now one of the leading providers of quality
pre-school education in the UK. Today, the company operates 11 nurseries and 1
Pre-Prep School under the brand of Primary Steps caring for over 400 children in
areas of high demand across the country. Nurseries are located in Bedford,
Illford, Bushey, Chiswick, East Sheen, Hemel Hempstead, Milton Keynes, North
Finchley and Watford.
The value of the UK children's nursery market is estimated at over #2 billion
(2002) and the private sector nurseries generate an estimated income of nearly
#1.9 billion (2002). The children's nursery market has grown rapidly in the last
10 years, and is now five times the size (in nominal value terms) that at the
start of the 1990s. The fastest growing segment in the UK childcare market is
professionally managed, privately run day nurseries to which the Government is
committed to continuing funds.
This information is provided by RNS
The company news service from the London Stock Exchange
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