Sherwood Group completes acquisition of Charnos lingerie brand
27 Mar '06
2 min read
The cash consideration of £585,000 is funded out of available cash reserves and an additional £250,000 has been provided for to complete the re-structuring and integration of the business.
Sherwood believes that sales achieved through the unwinding of the stock purchased will cover the initial acquisition cost.
Michael Hobbs, Sherwood Group Chairman said, “This is a major step forward for the Sherwood Group and demonstrates the ambition and confidence of its management team. Charnos complements Sherwood's current stable of brands. Its market position and strong distribution through the independent sector helps broaden the opportunity for all Sherwood brands.”
Sherwood Group is a designer and supplier of ladies' intimate apparel, with a portfolio of brands comprising Lepel, Miss Lepel, and Ted Baker Intimates.
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