27th Sep 2021 10:52
(Alliance News) - Creightons PLC has bought Brodie & Stone for GBP4.8 million, the beauty products manufacturer said on Monday.
Brodie & Stone sells personal care products under its T Zone, Natural World and Janina brands, primarily to retailers in the UK market.
The GBP4.8 million deal will consist of GBP3.7 million in cash and the issue of 1.0 million shares at 114.6p each.
Shares in Creightons were up 3.0% to 120.00 pence in London on Monday morning.
The acquisition "will further strengthen our position in the UK grocery market. It is further evidence of our ambition and commitment to expand our branded business as announced during our recent investor presentation," Managing Director Bernard Johnson said.
There are also "significant opportunities" for extending distribution, particularly in international markets, Creightons added.
By Will Paige; [email protected]
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