TSI.L Regulatory News (TSI)

25 Apr 2006 13:07

Coburg Group PLC25 April 2006 COBURG GROUP PLC Coburg Group announces acquisition of the stock, fixed assets and goodwill of Aroma Coffee Ltd The Directors of Coburg Group PLC ("Coburg") announce that they completed theacquisition of the stock, fixed assets and goodwill of Aroma Coffee Limited("Aroma") on Friday 21 April 2006. Aroma supplies espresso coffees and espresso machinery to restaurants and coffeeoutlets as well as having a significant quality vending business supplyingFlavia and Kenco systems to offices. The acquisition fits well with Coburg'sexisting Citifilter business that specialises in selling coffee into offices. Itis the intention of the Directors to transfer the business from Aroma's premisesin Southall to the Coburg site in Woolwich and thus benefit from improved buyingand lower overhead costs. Coburg is paying £81,000 for the stock and fixed assets and a separate goodwillpayment of between £50,000 and £80,000 depending on the performance of the Aromabusiness during the year ending 21 April 2007. The assets and goodwill are beingacquired for cash payable over four years. Aroma's turnover for the year ended31 December 2005, was £521,700 . The stock and fixed assets were valued atapproximately £88,700 in the accounts of Aroma at 31 December 2005. For further information please contact: Coburg Group PLCChristopher Birkle (Group Managing Director) 020 8317 0103 This information is provided by RNS The company news service from the London Stock Exchange