10th May 2006 07:01
Farley Group PLC10 May 2006 Farley Group Plc Proposed Acquisition of the CJ Hole Country Estate Agents Completion of the Acquisition of Burrough and Company Update on the Acquisition of Moretons Date of issue: 10th May 2006 Farley Group Plc "Farley" or the "Company" announces it has entered into anexclusive agreement to acquire CJ Hole Country, the leading Somerset based chainof estate agents, surveyors and letting agents, operating out of 12 offices inthe county incorporating Long Ashton, Backwell, Nailsea, Clevedon, Portishead,Yatton, Congresbury, Wrington, Chew Magna, Worle, Weston-Super-Mare andWinscombe. It is intended that all these offices will be converted to trade under theHumberts brand over the next six to twelve months, bringing the total number ofoffices trading as Humberts to over 50. Commenting on joining the Farley Group, John Hill, chief executive of CJ HoleCountry said: "I am delighted to be joining forces with Humberts, which is oneof the strongest and most highly respected estate agency brands in the South ofEngland. We are very excited at the prospect of being part of such a dynamicgroup and look forward to contributing to the future growth of the brand." Commenting on the acquisition Max Ziff, chief executive of Farley said: "Thegreat strength of Humberts is that it is the only major brand in the South ofEngland that can claim to be National, Regional and Local, with an emphasis onlocal management that is essential to provide our clients with the best personalservice available. Our strategy is to identify the counties we wish to have apresence in, and then to dominate the market place by having a key number ofoffices in that region, all working together, to provide an unparalleled levelof service for our clients. The acquisition of CJ Hole Country will give us adominant position in Somerset to complement our existing operations in Tauntonand Yeovil. The acquisition also provides us with a tremendous opportunity toexpand into Bristol and the key surrounding areas." The Farley Group also announces that it has now completed the acquisition of thebusiness of Burrough and Company with its two offices in Hungerford and Newbury.These offices are currently in the process of being rebranded Humberts. Finally, discussions on the acquisition of Moretons are progressing withcompletion expected on or around 1st June, 2006. For further information contact: Max Ziff Farley Group plc 07802 472 774John Hill C J Hole 01275 462 121John Prior Corporate Synergy Plc 020 7448 4400Julia Arnold Sky Communications 020 7385 6999 Ends This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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