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Pin to quick picksDesign Group Share News (IGR)

Share Price Information for Design Group (IGR)

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Share Price: 232.50
Bid: 230.00
Ask: 235.00
Change: 15.00 (6.90%)
Spread: 5.00 (2.174%)
Open: 217.50
High: 232.50
Low: 211.00
Prev. Close: 217.50
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IG Design to buy US gift packaging supplier Impact Innovations for £56.5m

Tue, 28th Aug 2018 09:33

(Sharecast News) - IG Design said on Tuesday that it has agreed to buy US gift packaging supplier Impact Innovations for £56.5m.The AIM-listed company, which designs and manufactures celebration, gifting and creative play products, also said it has raised £50m through a placing of 9.8m shares at 510p each to help fund the deal.IG Design said the acquisition will create the world's largest consumer gift packaging business and deliver "significant" earnings accretion in each of the next three financial years and synergies in excess of $5m by year three. In addition, it will enable expansion into the growing and adjacent seasonal décor product category both in North America and in established Design Group markets around the world.For the year to the end of December 2017, Impact Innovations recoded underlying earnings before interest, taxes, depreciation and amortisation of $15m on revenues of $155.9m.It is estimated that the combined business will account for 22% of the overall consumer gift packaging market in the USA and Canada.Chief executive officer Paul Fineman said: "The combination of Impact Innovations with Design Group not only doubles the scale of our business in the Americas, it further enhances the overall performance and growth potential of our whole group whilst continuing to illustrate our delivery of the group's stated strategy."We are delighted to be acquiring a business that has a strong track record of consistent robust financial performance and cash generation through providing great product and category management expertise to its customers. As a combined group, we have a significant opportunity to capitalise on our now enlarged scale and breadth of offering to our customer base of many of the world's largest and most successful retailers."The company also gave a very brief update on trading, which it said has been strong in the current financial year to date, while its full-year financial forecast remains in line with management expectations.At 0930 BST, the shares were up 3.9% to 543.40p.
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29 Jan 2014 07:58

International Greetings does well at Christmas

People buying wrapping paper and gift bags helped packaging and stationery group International Greetings to celebrate a good Christmas. The company said third-quarter results had matched expectations after it did well in festive trading. It said gift bag sales were increasing and it was boosting

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4 Dec 2013 07:46

International Greetings profit falls, margins improve

- Half-year profit shrinks - Margins improve - Robust order book for the full year 2013/14 Gift packaging, stationery and gifts group International Greetings said sales and profit for the six months to the end of September deteriorated while margins improved. The group, which sells over 2bn feet

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5 Sep 2013 12:43

DIRECTOR DEALINGS - International Greetings Directors Gives Shares To Sons

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3 Sep 2012 10:17

International Greetings says a big hello to America

International Greetings, the gift packaging, stationery and gifts group, announced further expansion in the US on Monday, giving its share price a strong lift. The Hatfield-based firm has begun supplying the largest drugstore chain in the US, giving it access to a 7,900-store network in the world's

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24 May 2012 13:28

Small caps round-up: Autologic, Netcall, Animalcare ...

Vehicle services and distribution firm Autologic Holdings is in talks with logistics giant Stobart Group regarding a possible cash offer for Autologic. Netcall, a customer engagement software provider, has continued to trade strongly in the second half of the year, seeing growth across all markets

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4 Apr 2012 15:45

Millennium and Copthorne Hotels non-exec makes sale

Richard Hartman, a Non-Executive Director of FTSE 250 firm Millennium and Copthorne Hotels, sold 132,694 shares in the company on April 3rd at a price of 478.00p each. The £634,277 transaction followed the vesting of around 479,000 shares under the firm's long term incentive plan on March 30th 200

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13 Jan 2012 11:19

Friday broker round-up - UPDATE

Vodafone: Nomura upgrades to buy. Bunzl: UBS cuts to neutral from buy. RSA Insurance: Citi cuts to neutral from buy. BT Group: Nomura upgrades to buy from reduce. RBS: Seymour Price upgrades to buy from reduce. BG Group: JP Morgan raises price target to 1,900p from 1,455p. Tesco: Credit Suiss

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13 Jan 2012 07:55

International Greetings sells over 2bn ft of wrapping paper

International Greetings, a gift wrap and stationery supplier, performed in line with management's expectations during the Christmas trading period and the third quarter. During the Christmas period the firm's annual gift wrap sales exceeded 2 billion feet for the first time. Paul Fineman, Chief

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6 Dec 2011 07:57

International Greetings shrugs off challenging markets

Gift wrap and stationery supplier International Greetings reported a 6%increase in half year sales and said significant opportunities across its markets gives makes it optimistic for the future. Sales in the half-year to 30 September rose to £110.3m from £104.5m in 2010. Profit from continuing ope

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8 Dec 2010 16:56

London close: Footsie slips back on sluggish day

Shares struggled to snap out of their earlier sluggishness all day, closing just a few points in the red. Bid-related activity was the main source of excitement. Medical devices group Smith & Nephew was swept more than 9% higher by talk of a possible acquisition. US private equity firms are though

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8 Dec 2010 15:19

London afternoon: Footsie loses grip

The 5,800 level is under pressure as a weak start on Wall Street begins to drag London back into negative territory. Insurers Prudential, Aviva and Resolution are doing their best to keep the market's head above water, but losses in the mining sector - Rio Tinto, Randgold and Anglo American have fa

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8 Dec 2010 12:08

London midday: Retail stocks take centre stage

Footsie is in sluggish mode today although there is some excitement among retail-related stocks. Figures from the British Retail Council show shop price inflation fell for the first time in five months in November as nervous retailers slashed prices to make sure shoppers splash out in the run-up to

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8 Dec 2010 08:57

London open: Blue chips head lower

London has opened lower as a bullish mood in the US following a two-year extension to tax cuts faded by the close last night. Smith & Nephew is the best performer by some distance, while Royal Dutch Shell is also higher after an upgrade to equal-weight from underweight from Morgan Stanley. The dea

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8 Dec 2010 08:37

International Greetings wraps up strong H1

Gift wrap and stationery supplier International Greetings more than doubled half year profit while sales rose 13% as it moves confidently into the key Christmas period. Trading has continued in line with expectations since the period end, the group said in a company statement. "We expect condition

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28 Oct 2010 14:40

Strong first half for International Greetings

Gift wrap and stationery supplier International Greetings says that sales have grown in line with expectations in the first half, although the second half is the most important period for the company. The six months to September 2010 have benefited from Toy Story 3 licensed products. There has als

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