Creightons PLC Acquisition of Brodie and Stone (9799M)
27 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMCRL
RNS Number : 9799M
Creightons PLC
27 September 2021
27 September 2021
CREIGHTONS plc ("Creightons" or the "Company")
Acquisition of Brodie and Stone Holdings Limited and its
subsidiary, Brodie and Stone International Limited
and
Total Voting Rights
-- Total consideration of GBP4.8 million (GBP3.7 million in cash
and 1,000,000 ordinary shares in Creightons plc)
-- Brands being acquired include T Zone, Natural World and Janina
Creightons plc (LSE: CRL), manufacturers of personal care,
beauty, and fragrance products, announces that it has acquired the
entire share capital of Brodie and Stone Holdings Limited ("BSH")
and its subsidiary, Brodie and Stone International Limited ("BSI")
(together the "Transaction").
Brodie and Stone sells products under the T Zone, Natural World
and Janina brands, primarily to retailers in the UK market.
The consideration for the transaction is approximately GBP4.8
million comprising GBP3.7 million in cash and the issue of
1,000,000 ordinary shares of 1p each in the Company ("New Ordinary
Shares") at the volume weighted average middle market CRL quoted
price for preceding 5 Business Days of GBP1.146 per share
("Consideration Shares").
The Consideration Shares will be subject to a lock-in mechanism
for twelve months.
Application will be made by the Company to the Financial Conduct
Authority and to the London Stock Exchange for the New Ordinary
Shares, which will rank pari passu with all existing ordinary
shares, to be admitted to the Official List and to trading on the
London Stock Exchange's main market for listed securities
("Admission"). It is expected that Admission will become effective
and dealings will commence on or around 1 October 2021.
The gross assets applicable to the Transaction as derived from
the most recently available accounts of BSH and BSI to 31 December
2020 were GBP2.2 million and the turnover was GBP5.8million, with
profits before tax of GBP0.5million, as adjusted to remove the
benefit of an historic intercompany loan write-off.
The Transaction represents a further important development for
Creightons plc following the acquisition of Balance Active Formula
from Brodie and Stone in June 2019 and the recent acquisition of
Emma Hardie Limited. The Balance Active Formula brand has been very
successful in driving significant growth and improved margins in
the branded division with existing and new customers both in the UK
and in international markets. The intention is to repeat the
success of that acquisition with T Zone, Natural World and Janina.
These brands are placed well in the Company's core market position
and therefore, enhance the current brand portfolio by strengthening
the coverage and category presence with key mainstream retailers in
the UK market, in the core performing categories of both skincare
and haircare. There are also significant opportunities for
extending distribution, particularly in international markets. The
brands provide good vehicles through which product innovation can
be harnessed and delivered quickly to the consumer. Both
manufacturing and management synergies will drive a higher return
in the brands.
Mr Bernard Johnson Managing Director of the Company commented:
'We are pleased to announce the acquisition of Brodie and Stone
which will further strengthen our position in the UK grocery
market. It is further evidence of our ambition and commitment to
expand our branded business as announced during our recent investor
presentation.'
Total Voting Rights
On Admission, the number of shares in issue will be 67,452,243
ordinary shares of 1p each and therefore, the total number of
voting rights in the Company will be 67,452,243.
The above statement of voting capital may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest, or a
change to their interest, in the Company under the FCA's Disclosure
Guidance and Transparency Rules.
This announcement contains inside information as stipulated
under the UK version of the Market Abuse Regulation No 596/2014
which is part of English law by virtue of the European (Withdrawal)
Act 2018, as amended. On publication of this announcement via a
regulatory information service, this information is considered to
be in the public domain.
Enquiries - Analysts and Investors:
Nicholas O'Shea, Director, Creightons Plc 01733 281000
Roland Cornish / Felicity Geidt, Beaumont Cornish Limited 0207
628 3396
Press Nigel Szembel, Anagallis Communications Limited 07802
362088
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END
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