StockMarketWire.com - Fishing equipment retailer Angling Direct said it had acquired Erics Angling Centre for a total of £1.10m.

Erics had two stores located at the heart of strong angling communities in Buckinghamshire and Leeds, the company said.

The Farlows Lake store would be re-branded Angling Direct, while the Leeds business would be migrated over to Angling Direct's new destination store at City South Retail Park, less than four miles away, consolidating the local offering, the company said.

The online and mail order operations, which represented about 30% of Erics' £5.2m revenues in 2018 and were currently based in Leeds, would be closed and integrated with Angling Direct's online retail and distribution operations in Norfolk, bringing associated cost efficiencies, it added.

Following the integration of Erics, Angling Direct would have 31 stores in England.

At 8:10am: [LON:ANG] Angling Direct Plc share price was 0p at 59.5p



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