Market Update Economic Events Directors Deals Commodities Prices News Market Movers

Franchise Brands acquires Barking Mad

Tuesday, 1st November 2016
Franchise Brands, a multi-brand international franchisor, has acquired Barking Mad Limited for a total consideration of £900,000.

This represents the group's first acquisition as part of its stated buy and build strategy following the recent successful IPO.

Barking Mad is a pioneer and leading franchise provider of dog sitting services in the UK. It currently has 75 franchised territories across the UK, operated by 71 franchisees.

Based on unaudited statutory accounts, Barking Mad's revenue for the year ended 30 April 2016 was £616,000 (2015: £561,000) and profit before tax was £155,000 (2015: £103,000). Barking Mad had net assets of £115,000 as at 30 April 2016.

Consideration for the Acquisition is £900,000, of which £400,000 has been satisfied via the issue of 761,193 new ordinary shares of 0.5 pence each in the capital of Franchise Brands at a price of 52.54914 pence per share.

All these shares will be issued to Barking Mad's founder and managing director, Lee Dancy, and her husband and will be subject to a three year selling restriction.

Story provided by

Related Shares: Franchise Brand

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.