Acquisition/Notice of Results
10 Junho 2004 - 4:00AM
UK Regulatory
RNS Number:6016Z
International Greetings PLC
10 June 2004
0700, 10th June 2004
International Greetings plc
Cracker acquisition strengthens International Greetings offering
Notice of Results
International Greetings plc ("International Greetings" or "the Group")
(AIM: IGR), the leading designer and manufacturer of private label greetings
products, wrapping paper and film and television character based licensed
stationery, announces today that it has acquired Krakajack, one of the leading
suppliers of crackers to the Irish market, for an initial cash consideration of
#400,000 followed by additional deferred payments estimated at #500,000.
Krakajack, which is estimated to contribute turnover of #2 million this
financial year, provides International Greetings with:
* A customer base and order book into the Irish cracker market
* An entry into the lucrative catering market
* Machinery and equipment for the manufacture of crackers (to complement
the Group's existing hand-made high quality products)
There will be no significant additional overhead for International Greetings as
Krakajack's business and manufacturing line will be integrated into the Group's
production facility in Wales.
International Greetings will announce preliminary results for the year ended
31st March 2004, on 29th June 2004. Analysts wishing to attend a presentation
should contact Richard Sunderland at mj2 (contact details below).
Nick Fisher, chief executive of International Greetings, commented:
"Krakajack further strengthens our offering by providing International Greetings
with new equipment and expertise, as well as a foothold in the important Irish
and catering markets."
For further information:
Nick Fisher, International Greetings: 01707 630630
Richard Sunderland/ Tim McCall, mj2 ltd: 020 7491 7776
(Richard.sunderland@mj2.co.uk)
Graeme Cull, Arden Partners 0121 423 8960
Notes to Editors:
International Greetings plc is a designer and manufacturer of private label
greetings products and licensed stationery, supplying to the US and UK markets.
The Group's products include gift wrapping paper, gift tags, ribbons, Christmas
crackers, greeting cards and other decorative accessories. International
Greetings also manufactures specially ordered private label Christmas products
and holds the licences to produce merchandise for a number of high profile films
including the third Harry Potter film, the Prisoner of Azkaban, and the
forthcoming Shrek 2.
International Greetings was established in 1979. It listed on AIM in 1995 and is
currently capitalised at about #115 million.
Further information is available at www.internationalgreetings.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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