StockMarketWire.com - Musical instrument seller Gear4Music reported trading in line with expectations as it unveiled the £9.2 million acquisition of AV Distribution.

The group a return to growth for its UK revenue in July and August with slower European revenue hit by post-Brexit challenges.

New distribution centres in Ireland and Spain are on track to open in September 2021.

AV Distribution trades as AV Online, an online retailer of home cinema and HiFi equipment, Gear4Music has also agreed to acquire the website domain name 'AV.com'.

AV Online increased revenues by 54% to £8.6 million during the last financial year to 31 March 2021, generating adjusted EBITDA of £1.3 million.


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