RNS Number:4741Q
Richmond Foods PLC
02 October 2003

02 October 2003

                Richmond Foods plc ("Richmond" or "the Company")

Richmond announces that it has entered into an agreement today for the
acquisition of the entire issued share capital of Oldfields Ice Cream Limited ("
Oldfields").

Oldfields is a Sheffield based manufacturer of ice cream products, mainly 2
litre tubs and catering products.

For the year ended 31st December 2002, Oldfields recorded a gross profit of
#0.95 million and a profit before tax of #0.3 million on turnover of #5.4
million. At that date Oldfields had net assets of #2.6 million.

The net consideration for the acquisition is #3.95 million comprising a gross
consideration of #5.5 million less cash at bank in Oldfields of approximately
#1.55 million. The consideration will be satisfied by cash on completion
excluding #0.15 million deferred until November 2003 and #0.4 million that will
be deferred until June 2004. The deferred consideration will be reduced on a #
for # basis to the extent that the completion balance sheet, after audit, has
net assets less than #3.175 million.

James Lambert, Chief Executive Officer of Richmond, stated, "I am delighted at
this further acquisition which will help move Richmond forward towards achieving
our strategic goal, which is to be 'The Number One Supplier of Ice Cream in the
UK'."



ENDS


For further information contact:
James Lambert - Chief Executive, Richmond Foods plc
Mobile: 07850 702042

Simon Bloomfield
Bankside Consultants
Tel. 0207 444 4140/mobile 07771 758 517




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