Acquisition

Mears Group PLC 07 June 2007 Mears Group PLC Acquisition of Britannia Care Mears Group PLC announces that its subsidiary Careforce, one of the UK's leading providers of domiciliary care services, has completed the acquisition of the entire issued share capital of Lancashire based Claremont Golcar Ltd trading as Britannia Care (Britannia) for a maximum consideration of £1.1 million in cash payable from existing resources. This comprises an initial payment of £0.82 million followed by a maximum deferred payment of £0.28 million conditional upon Britannia achieving agreed performance targets over the next 12 months. Britannia operates from offices in Bacup, Lancashire, servicing contracts with Lancashire County Council and Rochdale MBC. The accounts for Britannia for the year ended 31 July 2006 show an operating profit of £223,000 on turnover of £824,000 and net assets of £334,000. Mike Rogers, Chairman of Careforce, commented: 'Britannia currently delivers approximately 1,400 hours per week and employs approximately 60 carers. This is our first acquisition since Mears acquired Careforce and we are pleased to be continuing with our policy of consolidation within the industry. The acquisition of Britannia strengthens our position in South East Lancashire and extends our geographical coverage in to a new local authority area of Rochdale.' For further information, please contact: Careforce Group Mears Group PLC Mike Rogers, Chairman Bob Holt, Chairman John Coleman, Finance Director David Robertson, Finance Director Tel: 01438 310600 Tel: 07778 798816 - Bob Holt 07887 705357 - David Robertson www.careforcegroup.co.uk www.mearsgroup.co.uk This information is provided by RNS The company news service from the London Stock Exchange

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Mears Group (MER)
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