- Headlam Group, Europe's leading floorcoverings distributor, has announced that on Friday 30 January, it completed the acquisition of the business and certain assets of Matty's Wholesale Carpets.

Matty's is a distributor of residential floorcovering to independent flooring retailers, principally in the Midlands.

Revenue for the calendar year 2014 was approximately £4.3 million.

Consideration at completion amounted to £1.882 million with a further £100,000 to be paid following verification of the fair value of net assets acquired of £1.232 million.

The company added that, following completion, the autonomous sales and marketing identity of Matty's will be preserved and logistics will be provided by the group's existing facility in Coleshill.

At 10:51am: [LON:HEAD] Headlam Group PLC share price was +3.75p at 453.75p

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