Nwf Regulatory News (NWF)

14 Jul 2006 07:00

NWF Group PLC14 July 2006 Embargoed until: 07.00 14 July 2006 NWF GROUP PLC ACQUISITION OF NEW GARDEN CENTRE SITE NWF Group plc ("NWF"), the diversified sales and distribution group, announcesthat its Garden Centre division has acquired the share capital of Arthur A Gent& Sons Ltd ("Gent"), a garden centre company located in Ashton under Lyne, nearManchester. The consideration amounts to £903,000, which includes £664,000 inrespect of cash balances retained within the company, and is being financed byNWF's existing bank facilities. Gent's activities were originally situated near Ashton under Lyne. However, dueto the construction of the M60 motorway, the business was relocated in 2002 to anew seven acre site in Ashton with the benefit of planning permission for a newgarden centre, held on a 50 year lease. Following the acquisition, NWF willdevelop the new garden centre, which it is anticipated will take up to sixmonths, and once completed it will comprise 30,000 square foot of heated retailspace with ample car parking. Graham Scott, Chief Executive of NWF, commented: "Ashton presents us with a veryexciting opportunity. By acquiring this excellent site within a rapidlydeveloping retail area, we have the chance to develop an entirely new andcomprehensive garden centre facility in close proximity to Ashton and the widerManchester area." "We are delighted to be expanding the Garden Centre division of the Group in theNorth West furthering our current growth strategy. We look forward to openingthe new centre towards the end of our financial year." 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