Delivered wholesaler Blueheath has acquired AC Ward & Son for up to £3m.
Blueheath said that the acquisition represented further opportunity to supplement the organic growth of the company.
It added that plans were already in place to integrate AC Ward into the business, with James Ward, managing director of AC Ward, expected to join Blueheath to support the integration and assist with future business development.
Douglas Gurr, chief executive of Blueheath, said: “We are delighted with the acquisition of AC Ward. This is an important part of our growth strategy and we are confident that Blueheath is in a good position from which to go forward.”
Blueheath said that £1m of the £3m price tag is conditional on the sales performance of the business in the period immediately following the acquisition. For the 10 months to October 2005, AC Ward is expected to report a turnover of £55m.
However, the transaction does not include AC Ward’s cash and carry business based in Sudbury.
Meanwhile, Blueheath has revealed that it has reduced its operating loss by 17% from £2.75m to £2.27m.
In half-year results for the six months to end August 27, it added that turnover had increased 53% to £52.3m and that it had “continued its progress towards breakeven”.
Blueheath said that the acquisition represented further opportunity to supplement the organic growth of the company.
It added that plans were already in place to integrate AC Ward into the business, with James Ward, managing director of AC Ward, expected to join Blueheath to support the integration and assist with future business development.
Douglas Gurr, chief executive of Blueheath, said: “We are delighted with the acquisition of AC Ward. This is an important part of our growth strategy and we are confident that Blueheath is in a good position from which to go forward.”
Blueheath said that £1m of the £3m price tag is conditional on the sales performance of the business in the period immediately following the acquisition. For the 10 months to October 2005, AC Ward is expected to report a turnover of £55m.
However, the transaction does not include AC Ward’s cash and carry business based in Sudbury.
Meanwhile, Blueheath has revealed that it has reduced its operating loss by 17% from £2.75m to £2.27m.
In half-year results for the six months to end August 27, it added that turnover had increased 53% to £52.3m and that it had “continued its progress towards breakeven”.
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