Nwf Regulatory News (NWF)

1 Aug 2006 07:01

NWF Group PLC01 August 2006 Embargoed until 07.00, 1 August 2006 NWF GROUP PLC ACQUISITION OF EAST ANGLIAN FUEL BUSINESS NWF Group plc ("NWF"), the diversified sales and distribution group, announcesthat its Fuels division has acquired the entire issued share capital of Brownsof Burwell Limited ("Browns"), a fuel distribution business established in 1930.The consideration amounts to £1.4m and is being financed from NWF's existingbank facilities. Originally a haulier and a coal merchant, Browns was transformed in 1970 to anoil distribution business when part of the site was converted to a fuel depot.In the 1990s it relocated to a new site in Burwell that now acts as thecompany's headquarters, from which it serves Cambridge, Newmarket, Thetford,Bury St Edmunds and Burwell's surrounding areas. Browns supplies approximately17 million litres of fuel products per annum. At 30 April 2006 Browns had net assets of £975,000 and an annual turnover of£7.4 million. Graham Scott, Chief Executive of NWF, commented: "We are delighted to bewidening our horizons in national fuel distribution. Browns operates from anexcellent location and is a well established business with a reputation forcustomer service. The acquisition both compliments and supports our Broadlandsfuels business based in Norfolk and will enable our further expansion in EastAnglia." For further information please visit www.nwf.co.uk or contact: Graham Scott, Chief Executive John West / Clemmie CarrNWF Group plc Tavistock CommunicationsTel: 01829 260 260 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange