Acquisition

17th Jan 2006 09:30

Marks & Spencer Group PLC17 January 2006 Issued: Tuesday 17 January 2006 MARKS & SPENCER ACQUIRES 28 SIMPLY FOOD STORES Marks & Spencer has announced today that it will extend its successful SimplyFood format with the acquisition of 28 stores on a leasehold basis from IcelandFoods Ltd for a consideration of £38m. The transaction is expected to complete in March, following which the storeswill be refitted and will reopen as Simply Food stores between June and Augustthis year. The stores, which average around 5,000 sq.ft., are all in target locations forthe Simply Food brand throughout the UK. The management and sales staffcurrently working in these stores will be transferred to Marks & Spencer throughTUPE. The new Simply Food stores will offer up to 2,000 Marks & Spencer food linesincluding ready meals, fresh produce, sandwiches, wine, flowers and basicgroceries plus a selection of cards and hosiery. Following the acquisition, Marks & Spencer will have 171 Simply Food storesthroughout the UK. Ian Dyson, Finance Director, said:"We are delighted to have acquired these siteswhich will enable us to accelerate the growth of our very popular and profitableSimply Food concept." For further information, please contact: Sue Sadler Corporate Press Office 020 8718 8642 Notes to Editors 1. The new Simply Food stores being acquired will be in the followingareas: Belfast Upper Newtownards Road, Bicester, Biggin Hill, Braintree,Caversham, Christchurch, Cirencester, Coleraine, Devizes, Durham, Edinburgh,Hazel Grove, Hertford, Honiton, Market Harborough, Morpeth, Newtownards,Northallerton, Oadby, Ormskirk, Palmers Green, South Woodford, St Neots,Sudbury, Tewkesbury, Cleveleys, Torquay and Trowbridge. 2. There are currently 143 Simply Food stores in the UK, Republic ofIreland and the Channel Islands. These include 40 franchise stores in railwaystations, Heathrow airport, motorway service areas and petrol stationforecourts. This information is provided by RNS The company news service from the London Stock Exchange

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