12th Oct 2007 07:00
Bovis Homes Group PLC 12 October 2007 Bovis Homes Group PLC acquires Elite Homes Group Limited Bovis Homes Group PLC has today acquired Elite Homes Group Limited from itsexisting directors and related trusts for a cash consideration of £25.7 million,plus assumption of £46.2 million of net debt. Elite Homes Group Limited is a homebuilder based in the north of England, withoperations across the North West and Yorkshire. For the year ended 31st October2006 its turnover was £58.4 million, its profit before tax was £6.4 million andits gross assets were £55.0 million. Bovis Homes Group Chief Executive, Malcolm Harris commented: "This acquisition represents a good opportunity for Bovis Homes to consolidateits presence in the north of England, developing its position in this importantmarket as part of its longer term regional expansion plans. This improves BovisHomes' land holdings in the North by over 800 consented plots plus immediateopportunities to convert strategic land, and supports delivery of its existinggrowth plans in this region." \* TEnquiries: Malcolm Harris, Chief Executive/ Neil Cooper, Finance Director Bovis Homes Group Plc Tel: 01474 876200 Emily Bruning Shared Value Limited Tel: 0207 321 5027\* T Copyright Business Wire 2007Related Shares:
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