RCS - Pittards PLC - Acquisition of Luxury Fashion Brand

PittardsAnnouncement

02/08/2022 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220802:nRSB5098Ua&default-theme=true

RNS Number : 5098U  Pittards PLC  02 August 2022

RNS Reach: Non-Regulatory Announcement

2 Aug 2022

 

PITTARDS PLC

("Pittards", "the Company" or "the Group")

                    Strategic aquisition of Luxury Fashion Brand,
Hill & Friends Limited

Pittards plc (AIM: PTD), the specialist producer of technically advanced
leather and luxury  leather goods for global brands, manufacturers, and
distributors, is pleased to announce that it has acquired the brand and assets
of Hill & Friends Limited, a contemporary luxury fashion brand founded by
Emma Hill CBE and Georgia Fendley, based in London.

 

The acquisition enables Pittards to add another luxury fashion brand to its
growing portfolio, bringing with it a distinctive aesthetic, proven pedigree,
and a loyal customer base whilst also offering the potential for material
international growth.

 

Founded in 2015, Hill & Friends' range of high fashion handbags and
accessories quickly established a reputation for both quality and value.
 Co-Founder Emma Hill's ethos of believing in fair trade and ethical
practices conforms with Pittards own long term strategy to drive sustainable
growth, and will provide operational & creative efficiencies with Pittards
existing fashion brands. She joins Pittards as a consultant.

 

Commenting on the acquisition, Pittards' CEO, Reg Hankey,  said: "maintaining
our strong balance sheet, this acquisition has been financed entirely from the
Company's existing liquidity. This complementary acquisition represents a
compelling opportunity to further scale our offering, building on our success
with our luxury gentlemen's brand Daines and Hathaway. We are excited to be
working with Emma to increase the breadth of our fashion industry offering
whilst at the same time, driving further synergy benefits and unlocking
shareholder value through increased scale."

 

For further information, please contact:

 Pittards plc            www.pittards.com
                         (https://url.avanan.click/v2/___https:/urldefense.proofpoint.com/v2/url?u=http-3A__www.pittards.com&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=7Um2a7LLyUH5SxHgl6zdagatUzGQxXwYgU_CeVAgL9Q&m=dcxSX44rdBUfn6sOWMPfQnBnCJtou4u4IKqv6fz9X7A&s=rFM_1ZGKBHfxhkHpVSXLSt0x8mI_pHwBTYmsp
                         -PFAYY&e=___.YXAxZTp3aGlyZWxhbmRwbGMyOmE6bzo0Y2UwZTIwNGM5YWVlMmJlOTIzMmFjMmE5ZjllMWU2OTo1OjRmZjI6YmY3ZjYxYThjZWYwZGIzMjMyZTFiNDQxNDgxODU3YmU2N2M1YTA2NzRkMDlhN2YxY2U3YWI0M2FmOWJlMWVmNDpoOk4)
 Stephen Yapp, Chairman  +44 (0) 1935 474 321

 Reg Hankey, CEO
 Walbrook PR Limited     pittards@walbrookpr.com (mailto:pittards@walbrookpr.com)

                         +44 (0)20 7933 8780
 Paul Vann               +44 (0)7768 807 631

 Joe Walker              +44 (0)7407 020 470

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFZGGRKMFGZZM