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4 Nov 2013 14:00
4 November 2013
Headlam Group plc
Headlam Group plc ("Headlam"), Europe's leading floorcoverings distributor, announces that on Friday 1 November 2013, it entered into an agreement to acquire the business and certain assets of Roger Fell Limited (Fell's Carpets,) with completion anticipated to occur on Friday 29 November 2013.
Fell's Carpets, a distributor of residential floorcovering based in Whitley Bridge, Yorkshire, is a supplier to independent floorcovering retailers throughout the north of England.
Revenue for the year ended 30 April 2013 was approximately £6.7 million.
On completion, an initial consideration of approximately £1.3 million will be paid, with a further £50,000 payable following verification of the fair value of assets acquired.
Subject to consultation with Fell's Carpets employees, it is proposed that the sales, marketing and logistics activities will be transferred to our existing facility in Gildersome, Leeds, whilst preserving the autonomy and identity of Fell's Carpets.
End
4 November 2013
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