Nwf Regulatory News (NWF)

17 Aug 2005 07:00

NWF Group PLC17 August 2005 Embargoed until: 07.00, 17 August 2005 NWF GROUP ACQUIRES FURTHER FUEL BUSINESS NWF Group plc, the diversified sales and distribution business, announces thatits subsidiary company, NWF Fuels Limited, has completed the acquisition of thewhole of the share capital of Broadland Fuels Ltd ("Broadland"), a privatecompany which trades as a fuel distribution business based in Norfolk. Theconsideration for the acquisition is £650,000 in cash. The business acquired was established in 1997 and operates from its head officein Martham Norfolk. It has a tanker yard at Acle and operates a petrol forecourtin Diss. Broadland currently sells approximately 25 million litres of fuel perannum, drawing mainly from the refinery at Great Yarmouth. This places it in thetop half of current NWF Fuel depots by size. For the year ended 31 March 2005, Broadland had turnover of £11 million and hadnet assets of £186,000. Graham Scott, Chief Executive NWF Group plc, commented: "This acquisitioncontinues our stated growth strategy for our fuels business. Importantly itsignificantly extends our geographic reach to the East of the Country. Norfolkis an ideal location for a NWF business as it is a traditionally very ruralcommunity, where there is still strong demand for heating oil and singleoperated petrol forecourts." 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