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Flying brands acquires on-line gardening business

Home shopping group Flying Brands has completed its acquisition of Garden Centre Online, it said today.

Flying Brands has paid £130,000 for the business which sells everything from gardening hardware products, garden furniture and ‘grow your own’ ranges.

In the year to August 2009 the Garden Centre Online had a turnover of £1.25m and a pre-tax loss of £110,000. It is anticipated that sales will be the same for this year with a small pre-tax loss.

Flying Brands chief executive Stephen Cook said: “The acquisition of Garden Centre Online is another example of our strategy of acquiring businesses in areas that are complementary to our existing product range and that enable us to leverage our growing customer base. It will increase further our online sales and we look forward to being able to offer our existing customers a wide range of great value-for-money hardware products.”

Source : Lisa Berwin - Retail Week

19 August 2010
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