4th Apr 2019 13:43
LONDON (Alliance News) - Pottery company Churchill China PLC on Thursday said it acquired certain assets from Dudson Holdings Ltd and Dudson Ltd for GBP2.1 million.
Churchill China funded the acquisition of some of the two companies' tangible and intangible assets from its existing cash resources.
Ceramic tableware firms Dudson Holdings and Dudson Ltd are both currently in administration. The sum paid by Churchill China does not include the Dudson group operating businesses, the company clarified.
Of the total, GBP1.5 million covered the acquisition of the Dudson brand and intellectual property in respect of two of Dudson's product ranges, Harvest and Evo.
"The assets purchased are complementary to our existing strategic plan and will allow Churchill to further extend its offering of differentiated added value products," the company said.
Churchill China shares were trading 2.7% lower at 1,460.00 pence each on Thursday afternoon.
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