RCS - Literacy Capital PLC - New Investment

Literacy CapitalAnnouncement

05/08/2022 07:00

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RNS Number : 9948U  Literacy Capital PLC  05 August 2022

The information contained in this announcement is restricted and is not for
publication, release or distribution in the United States of America, any
member state of the European Economic Area, Canada, Australia, Japan or the
Republic of South Africa.

 

 

5 August 2022

 

Literacy Capital plc ("Literacy Capital" or the "Company")

 

Literacy Capital completes acquisition of Ashleigh & Burwood

 

New investment

 

Literacy Capital is pleased to announce that on 1 August 2022 it completed its
acquisition of Ashleigh & Burwood, a leading independent UK-based home
fragrance manufacturer.

 

Literacy Capital has acquired a majority stake, with further financial terms
remaining undisclosed.

 

 

Literacy Capital completes acquisition of Ashleigh & Burwood

 

Literacy Capital has completed its acquisition of Ashleigh & Burwood, a
leading independent UK-based fragrance products manufacturer.

Founded in 1993 by father and son, John and Andrew Nettleton, Ashleigh &
Burwood is named after two nearby aristocratic estates, Ashley Park and
Burwood Park. From its base in West Molesey, Surrey, the business designs and
manufactures both branded and white-label fragrance products including
candles, room sprays, and reed diffusers, predominantly for the home. Around
40% of sales are international, with a strong and growing presence in Europe,
the U.S., and Japan.

Tony Buffin joins the business at completion as Non-Executive Chairman. He
brings a wealth of consumer industry experience having successfully led
Holland & Barrett as CEO and previously serving as CFO at Travis Perkins
and Coles Group in Australia. In addition, Jed Kenrick will join the company
as Chief Operating Officer. He will help to scale-up operations; he previously
served in similar roles at Dyson and Travis Perkins.

The investment allows Literacy Capital to help to build on the impressive
growth to date, broadening brand awareness with an increased focus on sales
and marketing and an opportunity to scale further via bolt-on
acquisitions.

The transaction represents Literacy Capital's twentieth platform investment
completed since the inception of the fund in September 2017, its fourth since
the fund was listed on the London Stock Exchange in June 2021 and second of
this calendar year. Literacy Capital has also supported its portfolio
companies in completing five bolt-on acquisitions this calendar year.

Enquiries

 

Singer Capital Markets Securities Limited:

 

Robert Peel / Amanda Gray

+44 (0) 20 7496 3000

 

Literacy Capital plc / Literacy Capital Asset Management LLP:

 

Tom Vernon

+44 (0) 20 3960 0280

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Company's website at
https://www.literacycapital.com/ (https://www.literacycapital.com/) .

 

The information contained in this announcement regarding the Company's
investments has been provided by the relevant underlying portfolio company and
has not been independently verified by the Company.

 

This announcement is for information purposes only and is not an offer to
invest. All investments are subject to risk.  Past performance is no
guarantee of future returns.  Prospective investors are advised to seek
expert legal, financial, tax and other professional advice before making any
investment decision.  The value of investments may fluctuate.  Results
achieved in the past are no guarantee of future results. Neither the content
of the Company's website, nor the content on any website accessible from
hyperlinks on its website for any other website, is incorporated into, or
forms part of, this announcement nor, unless previously published by means of
a recognised information service, should any such content be relied upon in
reaching a decision as to whether or not to acquire, continue to hold, or
dispose of, securities in the Company.

 

This announcement may include "forward-looking statements". All statements
other than statements of historical facts included in this announcement,
including, without limitation, those regarding the Company's financial
position, business strategy, plans and objectives of management for future
operations (including development plans and objectives relating to the
Company's products and services) are forward-looking statements.
Forward-looking statements are subject to risks and uncertainties and
accordingly the Company's actual future financial results and operational
performance may differ materially from the results and performance expressed
in, or implied by, the statements. These factors include but are not limited
to those described in the formal Prospectus. These forward-looking statements
speak only as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual results or any
change in the assumptions, conditions or circumstances on which any such
statements are based unless required to do so by the Financial Services and
Markets Act 2000, the Listing Rules or Prospectus Regulation Rules made under
Part VI of the Financial Services and Markets Act 2000 of the Financial
Conduct Authority or other applicable laws, regulations or rules.

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