Nwf Regulatory News (NWF)

2 Feb 2006 07:01

NWF Group PLC02 February 2006 Embargoed until: 07.00 2 February 2006 NWF GROUP PLC ACQUISITION OF WOODFORD PARK GARDEN CENTRE NWF Group plc ("NWF Group" or the "Group"), the diversified sales anddistribution company, announces that its Garden Centre division has acquired thebusiness and certain assets of Woodford Park Garden Centre ("Woodford Park")located to the South of Manchester, between Wilmslow and Stockport. NWF will pay an estimated total consideration of £1.95 million, including stockof approximately £700,000, and has entered into a new 35 year property leasewith an initial annual rent of £600,000, reviewable every five years. In theyear ending 31 January 2005, Woodford Park had an unaudited turnover of £6.4million and profit before taxation of £595,000, and the book value of assetsbeing acquired was £800,000. The acquisition will be financed from existing bankfacilities. Woodford Park has been developed over the last ten years and has grown to be oneof the UK's largest destination garden centres, winning a number of industryawards over the years. The total site measures 9.5 acres and lies on the A5102,the major road linking Wilmslow and Stockport. Graham Scott, Chief Executive of NWF commented: "Woodford Park is a very wellknown and large destination garden centre, which fits perfectly with ourexisting portfolio. It has been carefully developed by its previous owners andhas both an existing reputation for quality and good potential for furthergrowth." For further information please visit www.nwf.co.uk or contact: Graham Scott, Chief Executive John West / Claire MellyNWF 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