ITAB Shop Concept, with registered office in Jönköping and shares subject to trading on First North has acquired 100 per cent of the shares in Radford CGC Ltd in Great Britain.
Radford CGC is since many years the leading supplier in Great Britain of checkouts and system for both entrance and exit in shops and public office areas. The company also market niche products such as security system for trolleys. Radford CGC has a good market position among the biggest chain stores within both food and non-food business in Great Britain. Through the acquisition of CGC, ITAB become the second biggest supplier of entrance system and customer-guiding solutions in Europe. The turnover for 2006 is expected to be SEK 200 million and the company has 80 employees.
The acquisition is of strategic importance for ITAB Shop Concept. The ITAB Group is strengthening its position further on the British market where City Group was acquired earlier during 2006. CityGroup, who is expected to have a turnover of SEK 300 million 2006, delivers complete shop fittings both in wood and metal. The acquisition of Radford CGC means that ITAB become a complete supplier of shopfittings and shop equipment in Great Britain and effects of synergism will come up. The market in Great Britain is constantly changing, which also means opportunities for growth for ITAB Shop Concept.
The acquisition is expected to give a positive effect on result per share already during 2006.
ITAB Shop Concept supplies complete shop fittings for the food and non-food business. The activities consist of project management, design, development, manufacturing and sales. The concept range includes shop fittings mainly in wood and metal, shop equipment such as checkouts and entrance systems and internally developed products. The yearly turnover in ITAB Shop Concept is approximately SEK 2.000 million after these acquisitions and has 1300 employees.
For further information, please contact:
CEO Jan-Ola Wiréhn
ITAB Shop Concept AB, Sweden
Phone: +46 36 31 73 00
Mobile: +46 705-77 60 76
Box 9054 SE-550 09 JÖNKÖPING
Telefon: +46 36 31 73 00