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1 Oct 2010 07:00
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1 October 2010
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Mothercare acquires 25% stake in Australian franchisee
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Mothercare plc confirms that shareholders in its Australian franchisee Headline Group Limited ("Headline") have approved the acquisition of a 25% (plus one share) stake, which was announced on 16 July 2010.
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Headline currently operates 6 Mothercare and 27 Early Learning Centre stores in Australia. It recently announced the acquisition of the Babies Galore and Baby on a Budget retail businesses in Australia, which now gives it a significant national store footprint.
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Headline has announced its intention to convert these stores to the Mothercare and Early Learning Centre formats and it plans to develop a chain of at least 60 Mothercare and Early Learning Centre stores in Australia by 2012/13.
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Headline Group Limited has made an announcement on the Australian Stock Exchange:
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http://www.headlinegroup.com.au/shareholders.htmlΒ
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Notes to Editors:
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Mothercare plc is the leading global retailer of parenting and children's products with 1,167 stores in 53 countries worldwide, operating under the Mothercare and Early Learning Centre brands.
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Headline Group Limited is listed on the Australian Stock Exchange.
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Enquiries to:
Brunswick Group
|
Catherine Hicks /Catriona McDermott |
020 7404 5959 |
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