Acquisition

Creightons PLC 07 March 2003 Creightons plc ('Creightons', 'the Company' or 'the Group') Creightons is pleased to announce that it has agreed to acquire (through a wholly owned subsidiary) the brands, goodwill and international intellectual property rights ('IPR') of Nemesis Toiletries Limited (in Administration) on 7 March 2003. The IPR relates to a number of branded and private label personal care products, including the well-known name Potter & Moore. The consideration of £200,000 has been satisfied in cash. The Board of Creightons expects the Company to benefit from the extended product range, and believes that the Company's turnover will receive a modest boost. Potter & Moore is a long-established quality private label supplier. The acquisition will enhance the Group's ability to innovatively serve major retail customers. The two businesses will continue to run separately on a day-to-day operational basis, ensuring continuation of existing customer and supplier relationships whilst giving an enhanced opportunity for further product development and service improvements. Creightons' Executive Chairman, William McIlroy said: 'The Board is very excited with the acquisition. It will give us the opportunity to build on both businesses' established positions in the personal care market; benefiting our customers, suppliers and shareholders. 'This acquisition is part of the Company's strategy to build the existing Creightons personal care operations into a viable, profitable business,' Mr McIlroy added. This information is provided by RNS The company news service from the London Stock Exchange

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Creightons (CRL)
UK 100

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