Brown Group Regulatory News (BWNG)

3 Jul 2006 11:00

Brown (N.) Group PLC03 July 2006 N Brown Group plc ACQUISITION OF HIGH QUALITY CATALOGUE BUSINESS GRAY & OSBOURN FOR £8.25M N Brown Group, the Manchester-based direct home shopping company, is pleased toannounce the acquisition of the share capital of Gray & Osbourn Limited for acash consideration of £8.25m. The acquisition of this high quality womenswear catalogue retailer is in linewith the Group's strategy to expand the number of brands it operates in theupmarket midlife ABC1 demographic group. Gray & Osbourn is a profitable home shopping retailer with good growthprospects. For the year to December 2005 the company delivered turnover of£17.2m and pre-tax profit of £0.7m. The management team will be retained andwill play a leading role in taking the business forward. ENQUIRIES: N Brown Group plcAlan White, Chief Executive Tel: 0161 238 2202Dean Moore, Finance DirectorWebsite: www.nbrown.co.uk Gavin Anderson & CompanyFergus Wylie Tel: 020 7554 1400 Notes to Editors About Gray & Osbourn Gray & Osbourn is a leading catalogue brand in the UK premium home shoppingmarket, providing elegant co-ordinates and versatile outfits for stylish, maturewomen. The brands are focused on contemporary fashion which is stylish andinspiring. The ranges are selected from the very best of European design, aswell as Gray & Osbourn's own in-house collection. The business was founded in 1989. In 1998 the management, backed by PiperPrivate Equity, led a management buyout. The website was launched in 1999.Further information on the company is available at www.grayandosbourn.co.uk. This information is provided by RNS The company news service from the London Stock Exchange