Acquisition

9 Oct 2006 07:30

Headlam Group PLC09 October 2006 To : Company Announcements OfficePrimary Markets DivisionThe London Stock ExchangeCompany announcements Tel 0207 797 4400 For immediate release 9 October 2006 Headlam Group plc Headlam Group plc, Europe's leading floorcoverings distributor, announces thaton 6 October 2006 it acquired Concept (Midlands) Limited. Concept is a distributor of commercial flooring located in West Bromwich,supplying flooring contractors throughout the Midlands. Turnover for the year to the 31 December 2005 was £3,540,000 and profit beforetax £414,000. Total consideration, payable from internal resources, is £1.75 million. £1.7 million was paid on completion, with a further £50,000 payable on the production of completion accounts as at 30 September 2006, confirming minimum net assets of £1,221,000. Concept will operate autonomously from its existing location and will furtherstrengthen the group's position in the Midlands commercial flooring market. Enquiries: Tony Brewer Headlam Group Chief Executive Steve Wilson Headlam Group Finance Director Tel: 01675 433000 End 9 October 2006 This information is provided by RNS The company news service from the London Stock Exchange