Joules Group plc Acquisition of Joules by NEXT Plc and Tom Joule (3055I)
02 December 2022 - 12:30AM
UK Regulatory
TIDMJOUL TIDMNXT
RNS Number : 3055I
Joules Group plc
01 December 2022
Joules Group Plc
("Joules")
Acquisition of Joules by NEXT Plc and Tom Joule
Joules, the premium British lifestyle brand, confirms that its
Founder Tom Joule has partnered with NEXT Plc ("Next") to acquire
the majority of assets of Joules via a newly formed company (the
"Company") out of administration for a total cash consideration of
GBP34m. In addition, Next has acquired the current Joules Head
Office for GBP7m cash.
Next will own 74% of the equity of the Company, with the
remaining 26% owned by Tom Joule.
Tom Joule, Joules Founder, said: "After three years away from
the operational side, I'm truly looking forward to inspiring teams
with clear direction to excite and recapture the imagination of the
customer again. Our customers have always trusted us to lead, not
follow, with products that reflect their lifestyle. It's important
that we live up to the high standards they desire in design,
quality and, with NEXT's Total Platform delivery and customer
support proposition, the service they expect.
I'm so pleased that we have been able to strike a deal that
protects the future of the company for all its loyal customers, its
employees and also for the town of Market Harborough, which have
been so central to Joules' success."
Enquiries:
Joules Group plc Tel: +44 (0) 1858 435 255
Jonathon Brown, CEO
Hudson Sandler (PR) joules@hudsonsandler.com
Alex Brennan/Lucy Wollam Tel: +44 (0) 20 7796 4133
Joules - a premium lifestyle group with an authentic British
heritage
Joules is a premium lifestyle brand and group with an authentic
heritage and values of family, fun and joy in the countryside.
Joules creates and curates exceptional products that brighten
the lives of its customers, delivered through leading digital
platforms and supported by enticing experiences and stores that are
located in desirable locations relevant to the Joules customer's
lifestyle.
The Joules story began in 1989, when Tom Joule started selling
clothing on a stand at a country show in Leicestershire. Today, the
business designs and sells Joules-branded clothing, footwear and
accessories for women, men and children as well as collections of
homeware, toiletries, lifestyle and pet product ranges that are
carefully designed and developed through selected licensing
partnerships. Each collection comprises Joules' distinctive use of
humour, colour and unique prints, each of which is hand-drawn by
the brand's talented in-house print design team at its headquarters
in Market Harborough, Leicestershire.
www.joules.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQFLFFVFELLIIF
(END) Dow Jones Newswires
December 01, 2022 08:30 ET (13:30 GMT)
Next (LSE:NXT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Next (LSE:NXT)
Historical Stock Chart
From Jul 2023 to Jul 2024