Norish PLC
13 March 2000
ACQUISITION EXTENDS NORISH UK COLD STORAGE NETWORK
Norish plc announces the acquisition of East Kent Cold Storage Company Limited
('East Kent'), for a consideration of STG£450,000 payable in cash on
completion. East Kent, which is a subsidiary of Dunloe Ewart plc, operates a
public cold storage business at Lympne, near Folkestone, Kent.
The net assets of East Kent as stated in the audited accounts to 31 December
1999 were STG£405,727, and profit before tax for the year was STG£102,809.
Commenting on the announcement today, Paul Byrne, Chief Executive of Norish
plc said: 'This acquisition gives Norish a strategically located cold storage
facility close to the Channel Tunnel and further strengthens our geographic
coverage in the United Kingdom.'
Norish plc has full listings on the London and Irish Stock Exchanges. The
company now operates a network of 5 cold stores in England and Wales. Through
an associate company it also has cold storage interests in Ireland. During
1999, Norish acquired a leading UK cocoa and coffee warehousing group,
Belvedere Warehousing ('BWA'). BWA operates 8 ambient warehouses specialising
in the importation, storage, part processing and delivery of cocoa, coffee and
other products on behalf of commodity dealers and manufacturers in the UK.
ENDS 13th March 2000
For reference:
Murray Consultants:
Joe Murray / Maura Haslam Tel: 00 353 1 661 4666