Portmeirion Group Plc acquires remaining 50% of Portmeirion Canada Inc

  • Aug 13, 2020 BST
  • Team Kalkine
Portmeirion Group Plc acquires remaining 50% of Portmeirion Canada Inc

 

Portmeirion Group Plc (PMP) has acquired the remaining 50 per cent of the issued share capital of Portmeirion Canada Inc. from Royal Selangor Inc.

  • The company now owns 100 per cent of the issued share capital of Portmeirion Canada and has also agreed to purchase certain assets from Royal Selangor.
  • The Group will be paying a total cash consideration of CA$1.0 million (£0.6 million) from its existing cash resources. The company has also stated that as part of the acquisition, key licence distribution agreements in the Canadian marketplace are expected to continue.
  • On 13August 2020, at the time of writing, GMT 10:48 AM, PMP shares were trading at GBX 367, unchanged against the previous day closing price.

 


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