Last checked at 14 Dec 2016 12:03
Comptoir Group plc
("Comptoir" or the "Company")
Acquisition
Comptoir Group plc, the Lebanese canteen specialising in fresh, healthy and affordable Lebanese dishes, is pleased to announce that it has acquired the assets of Agushia Limited from administration. Agushia Limited operates Lebanese themed restaurant under the Yalla Yalla brand.
The acquisition cost for the company is £400,000 which the Company will pay from its existing cash resources. Agushia Limited for the year ended 30 April 2016 reported audited turnover of £2.4million and a pre-tax loss of £10,000. The assets acquired had an unaudited net value of £203,691 as at 31 October 2016.
As part of the acquisition Comptoir has acquired three Yalla Yalla branded restaurants. Comptoir will continue, for the time being, to operate each of the restaurants under the Yalla Yalla brand.
14th December 2016
This announcement contains inside information.
Enquiries:
Comptoir Group plc
Chaker Hanna Tel: 0207 486 1111
Cenkos Securities plc (NOMAD and Broker)
Bobbie Hilliam Tel: 020 7397 8900
Alex Aylen