Character Group PLC Acquisition of Chill Factor-Exchange of contracts (0867E)
05 July 2021 - 4:00PM
UK Regulatory
TIDMCCT
RNS Number : 0867E
Character Group PLC
05 July 2021
THE CHARACTER GROUP PLC
("Character" or "Group")
Designers, developers and international distributor of toys,
games and giftware
Exchange of contracts for the acquisition of Chill Factor
business
LONDON: Monday, 5 July 2021 : The Board of Character (AIM
symbol: CCT.L) is delighted to report that contracts were exchanged
on Friday, 2 July 2021 for the acquisition of the business and
assets of the Chill Factor branded range of drink chilling bottles
and slushy makers .
http://www.rns-pdf.londonstockexchange.com/rns/0867E_1-2021-7-4.pdf
The Group has been involved with this brand since 2013 and is
its exclusive distributor in the UK and Scandinavia. The
acquisition will bring this international brand into the stable of
evergreen brands that the Group actively manages and fosters
through its imaginative product development and the increasing
reach of its international distribution framework.
This small acquisition is being made by the Group's subsidiary
Character Promotions Limited from Toys"R"Us ANZ Limited (formerly,
Funtastic Limited) , an Australian hobby and toy company listed on
the Australian Securities Exchange (ASX: TOY). The total purchase
price of US$ 1.31m. is payable in cash on completion, which is
provisionally scheduled for 16 July 2021. The assets comprise the
Chill Factor international patents and trademarks as well as
designs and related intellectual property, associated moulds and
tooling for production, inventory, the customer lists, outstanding
orders, and goodwill of the business. No employees or any interests
in leased or freehold property are being acquired as part of this
acquisition. The Board believes that sales from this business can
be grown significantly under the Group's stewardship.
Jon Diver, Joint-Managing Director, commented:
"We know the Chill Factor brand well, having represented and
nurtured it in the UK since 2013. The innovative way that it can
turn fruit drinks to slushy treats in under a minute has proved
time and time again to be a favourite with families and children.
This is an attractive addition to our own-brand portfolio, and we
see the potential for significant development of the product
offering and for growth in sales for this range. It is also a great
project to deliver to our product design teams and to further
demonstrate and expand our international distribution
capabilities."
The Character Group plc
FTSE sector : leisure goods:
FTSE AIM All-share: symbol: CCT.L
Market cap : GBP147m
Email: info@charactergroup.plc.uk
Group website: www.thecharacter.com
Product ranges can also be viewed at www.character-online.co.uk
Enquiries to:
The Character Group plc
Jon Diver, Joint Managing Director
Kiran Shah, Joint Managing Director & Group Finance Director
Office: +44 (0) 208 329 3377
Mobile: +44 (0) 7831 802219 (JD)
Mobile: +44 (0) 7956 278522 (KS)
Panmure Gordon (Nominated Adviser and Joint Broker)
Atholl Tweedie, Investment Banking
Charles Leigh-Pemberton, Corporate Broking
Rupert Dearden, Corporate Broking
Tel: +44 (0) 20 7886 2500
Allenby Capital Limited (Joint Broker)
Nick Athanas, Corporate Finance
Amrit Nahal, Sales & Corporate Broking
Tel: +44 (0) 20 3328 5656
TooleyStreet Communications Limited (Investor and media relations)
Fiona Tooley
Tel: +44 (0) 7785 703523
Email: fiona@tooleystreet.com
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END
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