New Clicks Holdings Australian acquisition
New Clicks Holdings
New Clicks Holdings is pleased to announce that it has entered into an
agreement to purchase the Australian franchise business trading as Price
Attack. The expected completion date is 2nd July 2002.
The purchase consideration is an upfront cash payment of R67 million with up
to a further R22 million payable, in cash, at specified future dates based
on a R22 million earnings, before interest and tax, profit warranty.
Price Attack was founded in 1989 in Queensland and at present there are 94
franchised stores. The Price Attack store is essentially a speciality retail
store carrying a comprehensive range of hair care products and a large range
of associated accessories.
This acquistion is seen as fitting into the group`s multibrand strategy and
will result in the group`s Australian operations becoming a major market
player in hair care.
The impact on the net asset value per share and the earnings per share in
the current financial year is not expected to be material.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
