Grafenia plc Acquisition of Artichoke Design
March 26 2019 - 2:01AM
RNS Non-Regulatory
TIDMGRA
Grafenia plc
26 March 2019
26 March 2019
Grafenia plc
("Grafenia", the "Company" or the "Group")
Acquisition of Artichoke Design
Grafenia plc (AIM: GRA) is pleased to announce that it has
completed the acquisition of the entire issued share capital of
Artichoke Design Limited, trading as Nettl of The Jewellery Quarter
in Birmingham ("Artichoke").
Artichoke is a small design agency, based in Birmingham. They
have been successful brand partners for over 15 years. First as a
printing.com bolt-on franchise and latterly as a Nettl partner.
The business was founded and operated by two brothers. One is
leaving to pursue a new adventure and Richard Morris will be
remaining. Artichoke's existing location is reaching the end of its
lease, and the business will relocate imminently. We are rolling it
into our Nettl of Birmingham Business Store, just a few streets
away.
Peter Gunning, CEO of Grafenia said "Richard has been a
long-term partner and I've known him for over a decade and a half.
Now we're delighted to have Richard join Grafenia. With the support
of a larger team behind him, we look forward to making the most of
Richard's tenacity and sales skills to grow our Nettl of Birmingham
Business Store."
Artichoke's founder, Richard Morris said "We've been Nettl
partners for quite some time. I was excited by Nettl's plans and
wanted to be a part of making that happen. With the lease ending on
our premises, it made sense to combine our businesses and move
round the corner."
Artichoke - further information
In the year ended 31 March 2018, Artichoke's unaudited turnover
was approximately GBP180,000 generating an operating profit of
approximately GBP40,000. Given the size of the Artichoke business,
the acquisition is not considered a material transaction for
Grafenia.
For further information:
Grafenia plc
Peter Gunning (CEO) 07973 191 632
Allenby Capital Limited (Nominated Adviser
and broker)
David Hart / Liz Kirchner / Nicholas Chambers 0203 328 5656
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END
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