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A
company which posted record results in the spring
has acquired a clutch of new businesses.
Burley-in-Wharfedale-based
Findel, the home shopping and educational supplies
company, has paid out £34 million in the
deal.
It
has snapped-up Kitbag, Europe's largest on-line
sports retailers which operates the official
website stores for Manchester United, Chelsea,
Celtic, FC Barcelona and Nike Football.
Also
coming under its business umbrella is Kleeneze,
one of the longest-running door-to-door sales
cleaning product firms in the country. Joining
the ranks is I Want One Of Those - IWOOT - an
internet retailer selling gifts and gadgets.
Findel
acquired the businesses, which were part of
the group comprised of European Home Retail
and its subsidiaries, from the administrators
or administrative receivers.
The
deal comprises the trading and business assets
of Kitbag, IWOOT and Kleeneze,
the remaining 40 per cent of the share capital
of Home Farm Hampers and its infrastructure
assets not already owned by Findel and certain
other trading assets for the Cabouchon brand
name.
Patrick
Jolly, Findel's chief executive, said he was
confident the businesses were strong and could
flourish under Findel's control and contribute
to the overall strength of the group.
He
said: "These acquisitions are directly
in line with our stated strategy to grow our
home shopping business profitably through bolt-on
acquisitions and maximise the return on the
assets."
He
said Kitbag and IWOOT would enhance the range
of the company's internet operations while Kleeneze,
which was established in 1923, offered more
than 1,500 home and personal care products and
sold through a network of distributors in the
UK, Ireland, Netherlands and Germany.
Home
Farm Hampers enabled club members to save for
food and non-food hampers supplies just before
Christmas.
In
May, Findel recorded record turnover of £527.8
million, an 11 per cent rise on 2005. Pre-tax
profits were up by £6.6 million - a rise
of 14 per cent.
It
has been a leader in home shopping through mail
order catalogues and educational supplies to
the majority of UK schools for more than 40
years.
Express
Gifts, the company's home shopping division,
has 1.6 million customers in the UK.
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