Acquisition

RNS Number : 0240E

Brulines Group PLC

23 September 2008

 



Press Release

23 September 2008

Brulines Group plc

('Brulines' or 'the Company')

Acquisition

Brulines Group plc (AIM:BRU), the market leading provider of real time monitoring systems and data management services for the UK leisure sector, is pleased to announce that it has entered into a conditional contract to purchase all the issued share capital of Edensure Limited ('Edensure') for a total consideration of £220,000 to be paid in cash.  Completion is anticipated to occur on or around 24 October 2008. 

Established in 2002 and based in Sunderland, Tyne and Wear, Edensure provides Intelligent Forecourt Solutions for the UK Petrol forecourt market. 

The Directors believe that the proposed acquisition is a compelling strategic fit with the Group for the following reasons: 

	Brulines will provide key resource to help drive Edensure's market penetration
	Existing Edensure customers will benefit from the scale and reaction times of Brulines
	Synergies will allow the acquisition to be earnings enhancing in the year to March 2010

Post acquisition, Edensure will be a wholly-owned subsidiary of the Company.  Martin McTague, a current Executive Director of Edensure, will remain in situ to drive the business forward with the support and help of Brulines infrastructure and resources.

As a result of the anticipated completion during October 2008, the acquisition is not expected to be earnings enhancing in the year to 31 March 2009. With Company support to exploit the market opportunities together with expected synergies the acquisition is expected to be earnings enhancing in the year to 31 March 2010.*

Commenting on the proposed acquisition, James Dickson, Chief Executive of Brulines Group plc, said: 'The proposed acquisition is a natural extension of Brulines' core capabilities into an adjacent market where there is an opportunity to establish market leading products and services.

'Brulines' operational scale and data management expertise will provide a solid platform to grow the Edensure business.'

'The acquisition of Edensure, whilst relatively small, will produce enhanced earnings* next year, and is an important strategic development in Brulines' growth plans as it provides a solid commercial platform from which to accelerate our entry into new markets.'

Martin McTague, Managing Director of Edensure Limited, added: 'There is a great natural fit between Edensure and Brulines in terms of operational data management provision to blue chip customers and the need for business integrity.  Edensure has an exciting future as it develops its presence in a very opportune market place here in the UK and potentially in Europe.'  

* The statement regarding earnings enhancement is not a profit forecast and should not be interpreted to mean that Brulines' future earnings per share will necessarily exceed or match those of any prior year.

- Ends -

  Enquiries:

Brulines Group plc James Dickson, Chief Executive
Mark Foster, Finance Director	Tel: [phone]
[e-mail]	www.brulines.com

Media enquiries:

Abchurch
Sarah Hollins / Chris Lane / Matthew Neal	Tel: [phone]
[e-mail]	www.abchurch-group.com

About Brulines

Headquartered in Stockton-on-Tees, Brulines employs more than 200 people. The Company provides a complete 'information gateway' in more than 22,000 pubs in the UK, capturing a wide variety of valuable information that enables licensees, operators, owners and brewers the opportunity to improve their business success through increased knowledge. 

A more recent and rapidly growing product offer is Brand Quality Monitoring, which scrutinises the quality of products running through beer lines in a bar; measuring volume, temperature, flow rate and liquid type (e.g. beer, cleaning fluid or water) at the point of dispense. 

www.brulines.com

About Edensure

Edensure, a private company established in 2002, and based in Sunderland, Tyne and Wear, employs 11 people and at 30 June 2008 had a 2% market share of the petrol forecourt data management service opportunity in the UK. 

Edensure supplies key information to independent, multi branded owner, and supermarket petrol forecourt operators in the UK.

http://www.edensure.com/

 

END

 

 

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