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Likewise Group PLC - Birmingham-based domestic and commercial floor coverings distributor - Acquires Leeds-based distributor of carpets, laminate and vinyl tile and flooring accessories Delta Carpets Ltd for £3.0 million in cash and shares.
Deal will be made up of £1.0 million cash, with a further £1.5 million in cash being added on completion, and 500,000 shares in Likewise with an underpinned value of £500,000.
For 2021, Delta delivered sales revenue of £6.5 million and pretax profit of £400,000.
‘The acquisition of Delta further develops the geographical presence and customer base of Likewise. The increased capacity created by the new Distribution Hub in Birmingham releases capacity in Leeds to enable the logistics capability to integrate Delta and provide an enhanced service to customers,’ said Chief Executive Tony Brewer.
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