N Brown Group, the Manchester based direct home shopping company, is pleased to announce the acquisition of the share capital of Gray & Osbourn Limited for a cash consideration of £8.25m.
The acquisition of this high quality womenswear catalogue retailer is in line with the Group's strategy to expand the number of brands it operates in the upmarket midlife ABC1 demographic group.
Gray & Osbourn is a profitable home shopping retailer with good growth prospects. For the year to December 2005 the company delivered turnover of £17.2m and pre-tax profit of £0.7m. The management team will be retained and will play a leading role in taking the business forward.
ENQUIRIES:
N Brown Group plc
Alan White, Chief Executive
Dean Moore, Finance Director
Website: www.nbrown.co.uk
Tel: 0161 238 2202
Gavin Anderson & Company
Fergus Wylie Tel: 020 7554 1400
NOTES TO EDITORS
About Gray & Osbourn.
Gray & Osbourn is a leading catalogue brand in the UK premium home shopping market, providing elegant co-ordinates and versatile outfits for stylish, mature women. The brands are focused on contemporary fashion which is stylish and inspiring. The ranges are selected from the very best of European design, as well as Gray & Osbourn's own in-house collection.
The business was founded in 1989. In 1998 the management, backed by Piper Private Equity, led a management buyout. The website was launched in 1999. Further information on the company is available at www.grayandosbourn.co.uk.
