Disposal
March 15 2002 - 5:40AM
UK Regulatory
RNS Number:0444T
AGA Foodservice Group PLC
15 March 2002
15th March 2002
FOR IMMEDIATE RELEASE
AGA FOODSERVICE MAKES LEISURE & FLAVEL
SLOT-IN AND EYE-LEVEL COOKER DISPOSAL
Aga Foodservice has entered into a conditional agreement to sell its Leisure
and Flavel cooker brands and related stock of 55cm slot-in and eye-level
cookers to BEKO UK, part of the major international appliance group Arcelik,
for up to £5.4 million. In the year ended 31st December 2001 Leisure and
Flavel 55mm slot-in and eye-level cookers broke even on turnover of £17.8
million and at that date assets attributable to the business were £1.2
million.
The sale is part of the repositioning process announced in January 2002. The
Group's Leamington Spa production facilities will focus on the development of
the Rangemaster brand and will be a centre of excellence for the Group's range
cookers.
- ENDS -
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