Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMcbride Regulatory News (MCB)

Share Price Information for Mcbride (MCB)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 99.00
Bid: 98.40
Ask: 99.00
Change: -0.20 (-0.20%)
Spread: 0.60 (0.61%)
Open: 99.20
High: 99.20
Low: 98.00
Prev. Close: 99.20
MCB Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Sale of European Personal Care liquids

3 Jul 2018 07:00

RNS Number : 3461T
McBride PLC
03 July 2018
 

3 July 2018

 

McBride plc

 

Sale of European Personal Care liquids

 

McBride plc, the leading European manufacturer and supplier of Co-manufactured and Private Label products for the Household and Personal Care market, today announces that it has agreed to sell its European personal care liquids business to Royal Sanders Group for a cash consideration of £12.5m.

 

In its half year results of 22 February 2018, McBride announced plans to launch an accelerated transformation programme to return its Personal Care & Aerosols (PCA) division to break even within 18 months. Since February, the Group has announced proposals to close it UK aerosols operations at Hull. As a result of this action and the absorption of certain volumes into our French aerosols operation, the Group expects its ongoing aerosols operation to be at break-even profitability levels by July 2019.

 

As the next step in the PCA transformation programme, the Group today announces that it has agreed terms with Royal Sanders for the disposal of the Group's European Personal Care liquids activities, which comprises two manufacturing sites at Bradford, UK and Ieper, Belgium, which supply customers with a range of personal hygiene, haircare and oral care products.

 

The proposed transaction, which is subject to customary closing conditions, will comprise the disposal of the trade and assets of the Group's European personal care liquids business for a cash consideration of £12.5m (subject to any post-closing working capital adjustments), payable on completion. In the 12 months to June 2017 the business generated revenues of £58.8m and an EBITA loss of £1.9m. Gross assets at 31 December 2017 were £19.8m. For the 12 months to 30 June 2018, the business is expected to generate revenues of £56.0m and an EBITA loss of £2.8m. Proceeds of the sale will be used to pay down Group net debt and settle transaction costs. The transaction is expected to complete during the last quarter of 2018.

 

 

Rik De Vos, Group Chief Executive, commented;

 

"The agreement to sell our European Personal Care liquids activities follows a comprehensive review of the business and marks the final element in the transformation plan for our European PCA activities. The transaction enables the business to be developed as part of a dedicated personal care manufacturer of greater scale and positions McBride's European operations as a focused Household business with a clear strategy to deliver sustainable profitable growth." 

 

 

For further information please contact:

 

McBride plc

Rik De Vos, Chief Executive Officer

0161 203 7570

Chris Smith, Chief Financial Officer

0161 203 7570

FTI Consulting

020 3727 1017

Ed Bridges, Nick Hasell

 

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

 

-Ends-

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DISEAAXAEEKPEAF
Date   Source Headline
28th Mar 20243:20 pmRNSDirector/PDMR Shareholding
25th Mar 20241:52 pmRNSDirector/PDMR Shareholding
13th Mar 20247:00 amRNSCapital Markets Day
28th Feb 20242:30 pmRNSDirector/PDMR Shareholding
27th Feb 20247:00 amRNSHalf-year Report
16th Jan 20247:00 amRNSTrading Update
13th Dec 20231:47 pmRNSDirector/PDMR Shareholding
20th Nov 20235:55 pmRNSDirector/PDMR Shareholding
20th Nov 20235:39 pmRNSResult of AGM
20th Nov 20237:00 amRNSAGM Trading Update
25th Oct 202310:22 amRNSTermination of ‘upside sharing’ mechanism
19th Oct 20237:00 amRNSTrading Update
17th Oct 20235:42 pmRNSPosting of ARA and Notice of AGM
4th Oct 20235:24 pmRNSVesting of RSU Awards
29th Sep 20237:00 amRNSDirector/PDMR Shareholding
22nd Sep 20235:33 pmRNSDirector/PDMR Shareholding
21st Sep 202310:54 amRNSDirector/PDMR Shareholding
19th Sep 20237:00 amRNSFinal Results
14th Jul 20237:00 amRNSFull year trading update
13th Jun 20237:00 amRNSDirector/PDMR Shareholding
31st May 20235:31 pmRNSDirectorate Change
25th May 20239:38 amRNSDirector Declaration
2nd May 20237:00 amRNSDirector/PDMR Shareholding
25th Apr 20237:00 amRNSTrading Update
11th Apr 20232:08 pmRNSDirector/PDMR Shareholding
3rd Apr 20232:39 pmRNSDirector/PDMR Shareholding
31st Mar 202312:27 pmRNSDirector/PDMR Shareholding
21st Mar 20235:59 pmRNSDirector/PDMR Shareholding
28th Feb 20237:00 amRNSHalf-year Report
1st Feb 20234:40 pmRNSSecond Price Monitoring Extn
1st Feb 20234:35 pmRNSPrice Monitoring Extension
1st Feb 20238:46 amRNSDirector Declaration
17th Jan 20237:00 amRNSTrading Update
11th Jan 20239:01 amRNSDirector Declaration
22nd Dec 20224:23 pmRNSDirector/PDMR Shareholding
13th Dec 20222:51 pmRNSDirector/PDMR Shareholding
16th Nov 20224:42 pmRNSAGM Statement
16th Nov 20227:00 amRNSAGM Trading Update
17th Oct 20227:00 amRNSAnnual Report 2022 and Annual General Meeting 2022
5th Oct 20225:55 pmRNSDirector/PDMR Shareholding
3rd Oct 20225:07 pmRNSRedemption of B Shares
29th Sep 202212:49 pmRNSFinal Results
29th Sep 202211:51 amRNSAmended Financing Agreement
29th Sep 20227:00 amRNSPreliminary results timing
6th Sep 20222:51 pmRNSBoard Update
30th Aug 20224:35 pmRNSPrice Monitoring Extension
25th Aug 20226:22 pmRNSCorrection - Result of General Meeting
25th Aug 20224:40 pmRNSResult of AGM
22nd Aug 20223:41 pmRNSHolding(s) in Company
15th Aug 20225:48 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.