20th Jan 2009 16:08
20 January 2009
Home Retail Group plc
Acquisition of Chad Valley brand
Home Retail Group, the UK's leading home and general merchandise retailer, today announces that it has signed a contract to acquire certain rights to the Chad Valley toy brand. The purchase price of £5.0m in cash is being paid to Woolworths plc (in administration). Neville Kahn, Nick Dargan and Daniel Butters of Deloitte LLP were appointed Joint Administrators of Woolworths plc on 27 November 2008.
The purchased rights are for exclusive use of the Chad Valley name and associated trademarks both in the UK and internationally. The brand has very strong heritage, with independent research confirming high recognition amongst UK consumers. Chad Valley will complement Argos' existing toy business and help to consolidate Argos' position as the number one toy retailer in the UK.
Enquiries
Analysts and investors (Home Retail Group)
Richard Ashton Finance Director 01908 600 291
Stuart Ford Head of Investor Relations
Media (Finsbury)
Rollo Head 020 7251 3801
Certain statements made in this announcement are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward looking statements.
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