Source - RNS
RNS Number : 8796I
Fishing Republic PLC
05 September 2016
 

5 September 2016

AIM: FISH

 

 

 

Fishing Republic plc

 

("Fishing Republic" or "the Company" or "the Group")

 

Acquisition

 

Fishing Republic, the fishing tackle retailer, is pleased to announce that it has acquired the business and assets of sole trader, A. Would, who operates Fantackletastic, a fishing tackle store in Lincolnshire, for a total consideration of £150,000, payable in cash.

Fantackletastic is a well-established local brand in Lincoln, having operated for over 15 years from the same site on a light industrial estate close to the City's centre. Catering for all types of fishing disciplines, from a 4,000 sq ft operation, it provides the Company with its first presence in the East Midlands and fits the Group's 'destination store' model. In the year to 31 March 2016, Fantackletastic generated revenues of c. £425,000 and an operating profit of c. £40,000. Following completion of the acquisition, Fantackletastic's founder, Adele Would, will remain with the business for a period to ensure a smooth handover, with the wider team joining Fishing Republic. The acquisition takes the total number of the Group's stores to 11.

 

Steve Gross, Chief Executive of Fishing Republic, commented:

"I am pleased to announce the acquisition of Fantackletastic, which provides Fishing Republic with a presence in the East Midlands. It is a long-established business, with a loyal customer base, and fits our 'destination store' model. We look forward to working with the Fantackletastic team as we integrate the business within the wider Group.

We continue to evaluate opportunities to increase the Group's footprint across the UK." 

 

 

Enquiries:

 

Fishing Republic plc

Steve Gross, Chief Executive

 

T: 01709 722590

 

 

 

 

KTZ Communications Limited

 

T: 020 3178 6378

Katie Tzouliadis / Viktoria Langley / Emma Pearson

 

 

 

 

 

Northland Capital Partners Limited

 

T: 0203 861 6625

Nominated Adviser and Broker

 

 

Matthew Johnson / David Hignell (Corporate Finance)

 

 

John Howes / Abigail Wayne (Corporate Broking)

 

 

 

 

 

About Fishing Republic plc

www.fishingrepublic.net

 

Fishing Republic is one of the largest fishing tackle retailers in the UK by floor space in one of the UK's largest participation sports. Established in 1985, the Company caters for all types of anglers: coarse, carp, game and sea fishing. It operates a chain of 'destination' retail outlets and has an online presence both through third party online retailers and its own websites (www.fishingrepublic.net and www.yorkshiregameangling.co.uk). Its comprehensive product offering includes own-brand ranges, such as Klobba and Theseus.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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