Business
Acquisition of Habitat UK Brand
Acquisition of Habitat UK Brand.
About this update from Home Reit Plc
[{"type":"text","content":"\n \nRNS Number : 0648J Home Retail Group Plc 24 June 2011 \n \n\n 24 June 2011\n \n \nHome Retail Group plc \nAcquisition of Habitat UK brand \n \nHome Retail Group, the UK's leading home and general merchandise retailer, today announces that it has agreed to acquire certain rights to the Habitat brand, one of the UK's leading contemporary home retailers. \n \nThe rights are for the exclusive use of the Habitat brand, its brand designs and intellectual property in the UK and the Republic of Ireland. In addition, Home Retail Group is also acquiring the Habitat UK website, three of its London stores and certain brand support functions.\n \nThe purchase price of £24.5m is being paid in cash to Habitat UK Limited (in administration).\n \nTerry Duddy, Chief Executive, Home Retail Group said:\n \n\"The style led credentials of the Habitat brand, with its strong heritage, will be a significant addition to the Group's portfolio of own brands. In addition to operating the three London stores and the UK website, we will introduce Habitat products across the Group including a number of concessions in Homebase stores. We will also look to develop the online proposition leveraging the award-winning multi channel strength of Home Retail Group.\"\n \n \nCertain 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.\n \n \nEnquiries\n \nAnalysts and investors (Home Retail Group)\nRichard Ashton &nb...