H&t Group Plc Regulatory News (HAT)

18 Feb 2008 07:00

H&T Group PLC18 February 2008 H&T Group plc Acquisition of two new stores H&T Group plc ("H&T" or "the Group") is very pleased to announce that it hascompleted the acquisition of the trade and assets of an independent pawnbrokerand jeweller consisting of two stores, currently branded "Christine's", locatedin Darlington and Wallsend. The acquisition is part of H&T's continueddevelopment of its business in the North East of England. H&T will retain both businesses at their current locations and looks forward tomaintaining the strong relationships both stores have with their customers. TheGroup plans, after an initial period of approximately six months to rebrand thestores under the H&T Pawnbrokers brand. Both stores are profitable businesses and have a successful trading history ofover ten years. Following these acquisitions H&T now operates from 92 outlets throughout the UK. John Nichols, Chief Executive of H&T, commented: "We are delighted to have acquired these two stores marking a positive start to2008. The current Christine's team run an excellent pawnbroking and jewelleryretail business, which we believe we can help grow by the addition of our otherfinancial services offering and our back office systems. "We believe that the North East of England provides an exciting growth area forour business, and we look forward to building on the group of four stores we nowhave in the region." 18 February 2008 ENQUIRES: H&T Group plc Tel: 0870 9022 600 John Nichols, Chief Executive Laurent Genthialon, Finance Director Hawkpoint (Nominated adviser) Tel: 020 7665 4500 Lawrence Guthrie/Sunil Duggal Numis Securities (Broker) Tel: 020 7260 1000 Oliver Hemsley/Charles Farquhar College Hill Tel: 020 7457 2020 Paddy Blewer / Gareth David This information is provided by RNS The company news service from the London Stock Exchange