- Headlam Group - Europe's leading floorcoverings distributor - has agreed to acquire the business and certain assets of Roger Fell Ltd (Fell's Carpets).

Completion is expected to occur on 29 November. Fell's Carpets, a distributor of residential floorcovering based in Whitley Bridge, Yorkshire, is a supplier to independent floorcovering retailers throughout the north of England. Revenue for the year to the end of April was approximately £6.7m.

On completion, an initial consideration of approximately £1.3m will be paid, with a further £50,000 payable following verification of the fair value of assets acquired. Subject to consultation with Fell's Carpets employees, it is proposed that the sales, marketing and logistics activities will be transferred to our existing facility in Gildersome, Leeds, while preserving the autonomy and identity of Fell's Carpets.

At 2:07pm: [LON:HEAD] Headlam Group PLC share price was +5.38p at 393.38p

Story provided by