APG Airsprung Group

 

TIDMAPG 
 
RNS Number : 1149R 
Airsprung Furniture Group PLC 
24 April 2009 
 

24 April 2009 
 
 
AIRSPRUNG FURNITURE GROUP PLC 
("Airsprung" or "the Group") 
 Acquisition 
 
 
Airsprung (AIM:APG), the supplier of manufactured and imported furniture, has 
agreed to acquire the business and assets of Hush-A-Bye Limited ("Hush-A-Bye"), 
a manufacturer and supplier of mattresses, for a total cash consideration of 
GBP300,000. Airsprung will make an initial payment of GBP30,000 and a deferred 
payment of GBP270,000 (subject to certain conditions). The value of the fixed 
assets acquired is GBP13,000 and the balance relates to goodwill, business 
information and intellectual property rights. 
 
 
Hush-A-Bye had an operating profit of GBP84k for the year ended 30 September 
2008. This acquisition will provide Airsprung with a complimentary distribution 
network thereby enhancing access to its markets.  The directors expect that this 
addition to the Group will be profitable in the current financial year. 
 
 
Peter Ball, a director and shareholder of Hush-A-Bye, will provide consultancy 
services to Airsprung. 
 
 
For further information, please contact: 
+----------------------------------------+----------------------------------+ 
| Tony Lisanti, Chief Executive          |                                  | 
+----------------------------------------+----------------------------------+ 
| Airsprung Furniture Group PLC          | 01225 779 114                    | 
+----------------------------------------+----------------------------------+ 
|                                        |                                  | 
+----------------------------------------+----------------------------------+ 
| Azhic Basirov                          |                                  | 
| Barrie Newton                          |                                  | 
+----------------------------------------+----------------------------------+ 
| Smith & Williamson Corporate Finance   | 020 7131 4000                    | 
| Limited                                |                                  | 
+----------------------------------------+----------------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQIIMLTMMTTMAL 
 

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