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T & S Stores PLC (~168)

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Wednesday 17 May, 2000

T & S Stores PLC

Acquisition of Day & Nite Stores Limited

T & S Stores PLC
17 May 2000



                    T&S STORES PLC ('T&S')
    ACQUISITION OF DAY & NITE STORES LIMITED ('DAY & NITE')


* T&S  Stores  Plc, the UK's leading neighbourhood convenience
  store ('C store') operator, announces the acquisition of Day
  &  Nite  Stores Limited, a Preston based C store chain  with
  100 C stores in the North of England, for £25.543 million

* T&S  will  issue 7,271,858 new ordinary shares of T&S  ('New
  Ordinary  Shares')  to  fund the  acquisition  and  to  meet
  related  financing  requirements;  of  these  2,864,793  New
  Ordinary Shares will be retained by the principal vendors of
  Day & Nite; 4,407,065 New Ordinary Shares are subject to  an
  underwritten  placing by CCF Charterhouse Corporate  Finance
  Limited at 360p per New Ordinary Share

* Day  & Nite's predominance of stores in northern England and
  its  central warehouse in Blackburn are highly complementary
  to  T&S's  existing  neighbourhood C  store  operations  and
  distribution facilities in Brownhills and Southampton

* As  at 17 May 2000, Day & Nite trades from 98 stores with  a
  further  2  in the course of development.  33 of the  stores
  are held freehold/long leasehold

* In  the  year  ended  28 August 1999, on turnover  of  £69.7
  million  and an average of 78 trading stores (based on  year
  end  positions),  Day  & Nite generated  operating  profits,
  before exceptional items and goodwill amortisation, of  £2.3
  million, representing an operating margin of 3.3 per cent

* Day  &  Nite's  net  assets at 28  August  1999  were  £4.96
  million,  including  freeholds and long  leaseholds  with  a
  total  book  value of £4.72 million and net  debt  of  £5.61
  million

Commenting  on the acquisition, Kevin Threlfall,  Chairman  of
T&S, said

'We are delighted to have agreed terms for the acquisition  of
Day  &  Nite.   The  business is highly complementary  to  our
existing  operations and we see significant  opportunities  to
develop its northern-based chain.

The  M&W and One Stop acquisitions have proven our ability  to
add  value  to  the  businesses we acquire.   We  expect  this
transaction to be earnings neutral in the current year, before
exceptional  items, with the full benefits flowing  after  the
first 12 months of ownership.

The  year  has  started well with sales up until  the  end  of
April, in line with budget expectations.  Sales in established
convenience stores are running 5% ahead of the previous  year.
The  One  Stop  stores acquired last year are benefiting  from
improved   store   layouts,  product   ranging   and   central
distribution and like for like sales have increased by 3%.

We  are  on course to be operating 1000 convenience stores  by
the year 2002 and we remain confident in the prospects for the
current year.'

Frank Heald, Chairman of Day & Nite, commented

'We  are  delighted to see Day & Nite become  a  part  of  the
leading  operator in the UK convenience store  sector.   Frank
Dee  and I have followed closely the progress of T&S and  have
recognised them as the most successful player in the market'.


Enquiries:

Kevin  Threlfall      T&S Stores Plc              01543  363 000
(Chairman)
James  McCarthy       T&S Stores Plc              01543  363 000
(Chief Executive)

Jonathan  Grassi      CCF Charterhouse Corporate  020 7248 4000
                      Finance Limited

Lulu Bridges        Tavistock Communications      020 7600 2288
Sarah Landgrebe


Notes   for  editors:  T&S  Stores  Plc  is  the  leading   UK
neighbourhood  convenience store operator principally  trading
under the One Stop fascia.  At 1 January 2000, T&S traded from
787  convenience stores out of a total retail estate of  1,200
stores.   In  the  year ended 1 January  2000  the  T&S  group
generated operating profits before exceptional items of  £36.3
million  on  turnover of  £773.8 million,  the  group's  sixth
successive year of strong growth.

The  Directors of T&S Stores Plc accept responsibility for the
information contained in this press release.  To the  best  of
the  knowledge and belief of the Directors of T&S  Stores  Plc
(who have taken all reasonable care to ensure that such is the
case)  the information contained in this press release  is  in
accordance with the facts and does not omit anything likely to
affect the import of such information.

CCF Charterhouse Corporate Finance Limited, which is regulated
in  the UK by The Securities and Futures Authority Limited, is
acting  for T&S Stores Plc and no one else in connection  with
the  acquisition and will not be responsible to  anyone  other
than T&S Stores Plc for providing the protections afforded  to
customers  of CCF Charterhouse Corporate Finance Limited,  nor
for  providing  advice in relation to the acquisition  or  any
other matter referred to in this press release.




                    T&S STORES PLC ('T&S')
    ACQUISITION OF DAY & NITE STORES LIMITED ('DAY & NITE')


The Board of T&S Stores Plc is pleased to announce that it has
agreed  to  acquire the issued share capital  of  Day  &  Nite
Stores  Limited  for a total consideration of £25.543  million
(the 'Acquisition').

Day  & Nite is a privately owned company operating a chain  of
neighbourhood convenience stores in the North of England.  The
principal shareholders of Day & Nite are Mr Frank Heald and Mr
Frank  Dee  who  each hold approximately 40 per  cent  of  the
company's  issued ordinary share capital and are  respectively
Chairman  and  Deputy Chairman.  They will join T&S  following
completion  of  the Acquisition.  Barclays Private  Equity,  a
venture  capital investor, holds approximately 17 per cent  of
Day & Nite's issued ordinary share capital.

As  at  17 May 2000, Day & Nite operates 98 convenience stores
with  a further 2 in the course of development (both of  which
are expected to be trading by August 2000).

In the year ended 28 August 1999, on turnover of £69.7 million
and an average of 78 trading stores (based on year end trading
positions)  Day  &  Nite generated operating  profits,  before
exceptional items and goodwill amortisation, of £2.3  million,
representing an operating margin of 3.3 per cent. Day & Nite's
net  assets  at  28 August 1999 were £4.96 million,  including
freeholds and long leaseholds with a total book value of £4.72
million and net debt of £5.61 million.  Net debt at completion
is expected to be approximately £8.5 million.

With its northern focus and 55,000 sq ft central warehouse  in
Blackburn,  Day  &  Nite  is  highly  complementary  to  T&S's
existing  neighbourhood convenience store  operations  and  to
T&S's  e-commerce initiatives.  The Board of T&S expects that,
before  exceptional items, the acquisition  will  be  earnings
neutral  in the current year, with the full synergy and  other
benefits flowing after the first 12 months of ownership.

The total consideration for the Acquisition will be met as to:

* £10.700  million through the issue of in aggregate 2,864,793
  New  Ordinary Shares in T&S (representing approximately 3.58
  per  cent  of  T&S's enlarged issued ordinary share  capital
  following completion of the transaction) ('Retained Shares')
  to  be  retained principally by Mr Frank Dee  and  Mr  Frank
  Heald. Barclays Private Equity will retain no T&S shares;
* £6.000 million of bank guaranteed loan notes; and
* £8.843   million  in  cash  from  the  proceeds   of   an
  underwritten vendor placing.

In connection with the Acquisition, T&S has also today entered
into  a  placing agreement ('the Placing Agreement') with  CCF
Charterhouse  Corporate Finance Limited  ('CCF  Charterhouse')
pursuant to which CCF Charterhouse has conditionally agreed to
use  its  reasonable  endeavours to  procure  subscribers  for
4,407,065   New   Ordinary   Shares   in   T&S   (representing
approximately 6.06 per cent of T&S's existing issued  ordinary
share  capital) at 360p per share or failing which  itself  to
subscribe for or acquire such shares.

The  Placing  Agreement is conditional,  inter  alia,  on  the
Acquisition being completed and admission of the New  Ordinary
Shares in T&S to the Official List and to trading on the  main
market  of the London Stock Exchange becoming effective.£6.000
million of the proceeds of the share issue will be reserved as
cash collateral for the bank guarantee on the loan notes to be
issued in connection with the transaction, £8.843 million will
be  paid to the vendors of Day & Nite and the balance  of  the
proceeds  of  £1.022  million  will  be  used  to  meet  costs
associated   with   the  transaction  and  to   reduce   group
indebtedness.

The  Sale  and Purchase Agreement for the Acquisition includes
warranties from the principal shareholders in respect of Day &
Nite  and  provides for a minimum net asset  value  of  £5.093
million at completion. In addition, pursuant to the agreement,
the  Retained Shares (except for up to 100,000 of the Retained
Shares)  may not be disposed of, save in a limited  number  of
circumstances, without T&S's consent until the earlier of  the
release  of  T&S's  preliminary results for  the  year  ending
December  2000 and 31 March 2001.  Completion of the Sale  and
Purchase  Agreement  is  conditional,  inter  alia,  upon  the
Placing  Agreement being completed and admission  of  the  New
Ordinary  Shares to the Official List and to  trading  on  the
main market of the London Stock Exchange becoming effective.

Application will be made to the UK Listing Authority  for  the
New Ordinary Shares to be admitted to the Official List and to
the  London  Stock Exchange for such shares to be admitted  to
trading  on  the  main  market of the London  Stock  Exchange.
These  shares  will,  when issued, rank  pari  passu,  in  all
respects  with  the existing issued Ordinary  Shares  of  T&S,
including the right to receive in full all dividends and other
distributions  thereafter declared, paid or  made,  save  that
they  will not carry the right to the final dividend  for  the
year  ended  1  January 2000.  Admission of  these  shares  is
conditional on completion of the Acquisition which is expected
to take place by 23 May 2000.

Enquiries:

Kevin  Threlfall        T&S Stores Plc             01543  363 000
(Chairman)
James  McCarthy         T&S Stores Plc             01543  363 000
(Chief Executive)

Jonathan  Grassi        CCF Charterhouse Corporate 020 7248 4000
                        Finance Limited

Lulu Bridges            Tavistock Communications   020 7600 2288
Sarah Landgrebe


The  Directors of T&S Stores Plc accept responsibility for the
information contained in this press release.  To the  best  of
the  knowledge and belief of the Directors of T&S  Stores  Plc
(having taken all reasonable care to ensure that such  is  the
case), the information contained in this press release  is  in
accordance with the facts and does not omit anything likely to
affect the import of such information.

CCF Charterhouse Corporate Finance Limited, which is regulated
in  the UK by The Securities and Futures Authority Limited, is
acting  for T&S Stores Plc and no one else in connection  with
the  acquisition and will not be responsible to  anyone  other
than T&S Stores Plc for providing the protections afforded  to
customers  of CCF Charterhouse Corporate Finance Limited,  nor
for  providing  advice in relation to the acquisition  or  any
other matter referred to in this press release.



                                                                                                                                                                                                                                                            

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