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30 Dec 2011 09:38
BETTER CAPITAL LIMITED
30 December 2011
ACQUISITION
Better Capital Limited is pleased to announce that further to BECAP Fund LP's (the "Fund") conditional commitment announced on 6 July 2011, on 29 December 2011 the Fund completed the acquisition of the UK and Irish business of Spicers, from Unipapel SA, immediately after its acquisition of the entire pan-European Spicers business from DS Smith Plc.
Spicers is an office products and stationery supplier, which had UK revenue of £343 million for the year ended April 2010 (1).
The Fund has committed a total of £40 million to a majority-owned special purpose vehicle set up to effect the transaction.
(1) Source: the audited financial statements
Enquiries:
Better Capital Limited +44 (0)1481 716 000
Mark Huntley (Director)
Laurence McNairn (Administrator and Company Secretary)
Better Capital LLP +44 (0)20 7440 0840
Mark Aldridge (CEO)
Numis Securities Limited +44 (0)20 7260 1000
Nathan Brown
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