Business
Acquisition of Warehouse and Distribution Centres
Acquisition of Warehouse and Distribution Centres.
About this update from Cake Box Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9432R Cake Box Holdings PLC 06 March 2019 \n\n6 March 2019\n \nCake Box Holdings plc\n(\"Cake Box\" or the \"Company\" or the \"Group\")\n \nAcquisition of Two Warehouse and Distribution Centres\n \nCake Box Holdings plc, the specialist retailer of fresh cream cakes, is pleased to announce that it has acquired the freeholds of two warehouse and distribution centres in Bradford and Coventry for an aggregate consideration of £1.4m. The consideration has been funded from existing cash resources.\n \nThe two warehouse and distribution centres will help support the Group's future growth, including new franchise store openings which continue strongly and in line with its plans. As at the end of February 2019, Cake Box had 111 franchise stores, having opened a further 10 since its half year end.\n \nIn addition, as set out in the Group's interim results on 28 November 2018, Cake Box intends to install some sponge production capability at the new centres which would enable the Group to reduce its distribution costs and provide a back up to its existing production facility in Enfield. \n \nThe Group expects to give an update on trading for the year ended 31 March 2019 in April 2019.\n \nFor further information, please contact:\n \n\n\n\nCake Box Holdings plc\nSukh Chamdal, CEO\nPardip Dass, CFO\n \n\n\n+44 (0) 20 8443 1113\n\n\n\n\nShore Capital\nStephane Auton\nPatrick Castle\nJames Thomas\n \n\n\n+44 (0) 20 7408 4090\n\n\n\n\nMHP Communications\nOliver Hughes\nSimon Hockridge\nCharlie Barker\nPete Lambie\n \n\n\n+44 (0) 20 3128 8570\n\n\n\n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END ACQBRGDXUSGBGCU\n ","length":3441,"tagName":"div"}]