Acquisition

Johnson Service Group PLC 14 December 2004 14 December 2004 Johnson Service Group PLC Acquisition of S Yaffy Limited Johnson Service Group PLC ('Johnson') announces the acquisition, on a debt free basis, of the entire issued share capital of S Yaffy Limited ('Yaffy') for £3.5 million in cash on completion, from the current management team who will remain with the business. Yaffy, which is based in Scotland, designs, manufactures and sources specialist outerwear clothing for many of the UK's police forces. Yaffy's turnover and profit before taxation for the year ended January 2004 was £4.5 million and £0.6 million respectively, with net assets at that date of £1.3 million. The acquisition is expected to be earnings enhancing in the first full year of ownership. Johnson CEO Stuart Graham said: ' This acquisition further strengthens our position in the supply of specialist clothing and follows on from the acquisition of Dimensions, the UK's leading supplier of corporatewear, in July of this year.' Johnson is intending to issue its pre-close trading statement in early January 2005. For further information, please contact: gcg hudson sandler Johnson Service Group PLC James Benjamin Stuart Graham, CEO Sandrine Boussard Jim Wilkinson, CFO Telephone: 020 7796 4133 Telephone: 0151 933 6161 Website: johnsonplc.com Notes to editors - The Johnson Service Group The Johnson Service Group has two principle activities: the traditional businesses focusing on textiles and the recently established facilities management operation. Over the last 2 years these core activities have been developed and grown through a series of strategic acquisitions. The Company has been extensively overhauled under the new Chief Executive Stuart Graham. Textile related support services include Johnsons Apparelmaster, Britain's leading launderer and renter of workwear; CCM, a manufacturer and sourcer of workplace garments; Dimensions, the leading supplier of corporatewear; Stalbridge Linen, Britain's leading linen supplier to the leisure, professional catering and corporate hospitality sector; Johnson Hospitality Services, recently acquired and expanded, the British market leader in the hire of catering equipment, hospitality furniture and related items to sporting, entertainment and similar events. Johnsons Cleaners, Britain's No. 1 dry cleaning brand, and the newly acquired Sketchley provide a nationwide network of circa 620 retail dry cleaning shops. Jeeves of Belgravia provides an exclusive and bespoke dry cleaning service within the London area. The newly established facilities management division, through Johnson Workplace Management, provides a fully comprehensive range of services, utilising a unique business model focusing on management, property expertise and the provision of a wide range of support services to FTSE and national companies and institutions. This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings