OneView Group Regulatory News (ONEV)

30 October 2013

Armour Group plc

("Armour" or the "Group")

Swedish Acquisition

Armour, the UK's leading consumer electronics group focused on the in-car communications and entertainment and home entertainment markets, is pleased to announce that Armour Automotive, through its Swedish subsidiary Armour Nordic AB, has acquired the business and assets of 12 Volt Sverige AB ("12 Volt") for a consideration of approximately £250,000.

12 Volt, which has been trading for over 30 years, is a leading supplier to the Swedish automotive aftermarket. It holds the exclusive distribution rights in the aftermarket in Sweden for the Alpine Electronics Inc. ("Alpine") range of in-car entertainment solutions. Armour, as part of the acquisition, has signed a new two and a half year exclusive distribution agreement with Alpine covering its range of in-car entertainment solutions for the Swedish automotive aftermarket. The 12 Volt business will be absorbed into the existing Armour operations in Sweden and is expected to add annually approximately £750,000 of incremental sales and an additional £80,000 of operating profit. The acquisition, which is expected to be earnings enhancing in the financial year to 31 August 2014, is being funded through a combination of existing facilities and a new Swedish based loan.

Says Armour Group CEO George Dexter: "I am delighted with the 12 Volt acquisition. It significantly strengthens our position in the Nordic region and brings into our product offering in Sweden the Alpine brand, recognised as one of the leading global brands for in-car audio and entertainment. The acquisition will also widen our distribution channels in Sweden and thus generate additional sales in respect of our proprietary brands."

-Ends-

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