Tandem Group completes ESC deal

(ShareCast News) - Sports and leisure equipment maker Tandem Group has agreed a deal to acquire ESC, an online retailer of gazebos, party tents household kitchen and fishing products.The London-listed group will pay an initial £2.1m, with up to a further £750,000 to be paid over the next 12 months based on ESC meeting profit targets.The deal is expected to complement Tandem's existing Pro Rider Ltd e-commerce business and the company is confident the deal will broaden its online product range."We are pleased that we have made this acquisition which will enable us to build further on our online trading platforms," said group chairman Mervyn Keene."Many of the products in the ESC portfolio complement our existing sports and leisure ranges and we look forward to the prospect of further growth."Tandem shares were up 0.15% to 167.75p at 1050 BST on Wednesday.