Business
Acquisition
Acquisition.
About this update from Ramsdens Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 2025A Ramsdens Holdings PLC 28 May 2019 \n\nRamsdens Holdings PLC\n \n(\"Ramsdens\", the \"Group\", the \"Company\")\n \nAcquisition of additional four stores trading as The Money Shop and 12 loan books \n \nRamsdens, the diversified financial services provider and jewellery retailer, is pleased to announce the acquisition of four stores currently trading as The Money Shop and 12 loan books from Instant Cash Loans Limited (the \"Acquisition\") for a total consideration of £0.5m, which will be satisfied in cash. The purchase price includes the acquisition of £0.3m of pawnbroking loan book.\nThis announcement follows the Group's successful acquisition of 18 The Money Shop stores and five loan books from Instant Cash Loans Limited in March 2019, and supports the Group's stated growth strategy of expanding its presence across target regions in the UK. The Acquisition will also enable Ramsdens to further leverage the significant investments in brand, IT and people made in recent years. Following the Acquisition, Ramsdens now has 163 stores in the UK.\nThe acquired stores will be rebranded as Ramsdens over the coming weeks and the full breadth of the Group's customer proposition will be incorporated into the stores. As with the Group's previous acquisition announced in March, the Board believes that there are significant opportunities for Ramsdens to build upon the existing foreign exchange proposition in the acquired stores and to improve their performance through the expertise of the Group's management team. \n \nThe Board anticipates that in FY20 there will be a small contribution to PBT as the Group invests in integration costs including those relating to refits, rebranding, training and IT integration. It is expected that this acquisition will contribute approximately £0.3m to Group PBT in FY 2021. \n \nAs previously announced, Ramsdens will announce its FY19 financial results on 12th June 2019.\n \nPeter Kenyon, CEO of Ramsdens, commented: \n\"Following our successful acquisition in March, I'm delighted to announce this acquisition which supports our growth plans. We have a proven track record of effectively integrating and improving the performance of acquired stores as we continue to capitalise on growth opportunities available to the Group as a leading ope...