Business
Acquisition of Centurian Automotive Limited
Acquisition of Centurian Automotive Limited.
About this update from Roadside Real Estate Plc
[{"type":"text","content":"\n \nRNS Number : 9550P Barkby Group PLC (The) 14 February 2019 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n14 February 2019\n \n \nThe Barkby Group PLC\n(\"Barkby\", the \"Company\" or the \"Group\")\n \nAcquisition of Centurian Automotive Limited, issue of equity and\nchange to total voting rights\n \nFurther to its announcement on 12 December 2018, The Barkby Group PLC, the consumer-focused hospitality group, is pleased to announce that it has completed the acquisition of the entire share capital of Centurian Automotive Limited (the \"Acquisition\"). The initial consideration payable is approximately £201,000, satisfied by the issue today of new ordinary shares in Barkby, and deferred consideration of up to approximately £251,000 over three years based on performance targets, also to be satisfied by the issue of new ordinary shares in Barkby. \n \nThe board of Barkby believes that the Acquisition is complementary to Barkby's existing high-end consumer offering and will be immediately earnings enhancing. For the year ended 31 March 2018, Centurian Automotive Limited (\"Centurian\") recorded a turnover of £5.6 million, an EBITDA of £246,000 and a profit before tax of £123,000. As at 31 March 2018, the net assets of Centurian were £603,000. \n \nCenturian is an award-winning automotive dealership with a strong and fast growing online digital presence and prides itself on its best-in-class customer service. Centurian has been recognised by Autotrader as a benchmark for all dealership training, marketing and master classes in the UK. Centurian is over twelve years old and has approximately 6 staff. \n \nRupert Fraser, CEO of Barkby, commented: \"The acquisition of Centurian reflects our ambition to make strategic acquisitions that complement our existing portfolio. We continue to build our presence in areas where we see opportunities for value creation. Centurian has a reputation for offering its clients hand-picked cars prepared to extreme detail and this, coupled with its fast-growin...