Business
Acquisition of Endeavour Group Limited
Acquisition of Endeavour Group Limited.
About this update from Staffline Group Plc
[{"type":"text","content":"\n \nRNS Number : 0644I Staffline Group PLC 19 March 2018 \n\nFor immediate release 19 March 2018\n \n \n \nSTAFFLINE GROUP PLC (\"Staffline\" or \"the Group\")\n \nAcquisition of Endeavour Group Limited\n \nStaffline, the Recruitment and Employability organisation, announces that on 16 March 2018, it completed the acquisition of Endeavour Group Limited (\"Endeavour\") and its subsidiary Vital Recruitment Limited (\"Vital\"). Vital was incorporated in 2006 and is a leading blue-collar recruitment business in the East of England, focusing on the Food, Agriculture and Logistics sectors. The acquisition will significantly increase Staffline's scale and presence in the East of England, supplementing the Group's existing Food and Agriculture offerings in that area. Audited accounts for the year to March 2017 show that Endeavour had a turnover of £83m and a profit before tax of £0.5m.\n \nThe acquisition is expected to be earnings neutral in the current year and is being funded out of Staffline's existing resources.\n \nChris Pullen, Chief Executive Officer of Staffline, commented:\n \n\"We are thrilled to announce this strategic acquisition of Vital. The acquisition will bring an extensive network of connections and resources in the East of England and will further strengthen our Food division and help us to increase our market share in Agriculture. The acquisition supports Staffline Recruitment's vision \"to be the trusted market leader, providing a single destination for Blue Collar workers and employers to connect across the UK\". With a number of large blue-chip clients, Vital will help further extend the Staffline network\". \n \nIn additi...