Last checked at 6 Mar 2019 07:00
6 March 2019
Cake Box Holdings plc
("Cake Box" or the "Company" or the "Group")
Acquisition of Two Warehouse and Distribution Centres
Cake Box Holdings plc, the specialist retailer of fresh cream cakes, is pleased to announce that it has acquired the freeholds of two warehouse and distribution centres in Bradford and Coventry for an aggregate consideration of £1.4m. The consideration has been funded from existing cash resources.
The two warehouse and distribution centres will help support the Group's future growth, including new franchise store openings which continue strongly and in line with its plans. As at the end of February 2019, Cake Box had 111 franchise stores, having opened a further 10 since its half year end.
In addition, as set out in the Group's interim results on 28 November 2018, Cake Box intends to install some sponge production capability at the new centres which would enable the Group to reduce its distribution costs and provide a back up to its existing production facility in Enfield.
The Group expects to give an update on trading for the year ended 31 March 2019 in April 2019.
For further information, please contact:
Cake Box Holdings plc Sukh Chamdal, CEO Pardip Dass, CFO
| +44 (0) 20 8443 1113 |
Shore Capital Stephane Auton Patrick Castle James Thomas
| +44 (0) 20 7408 4090 |
MHP Communications Oliver Hughes Simon Hockridge Charlie Barker Pete Lambie
| +44 (0) 20 3128 8570 |