UK: Johnson Buys Dewhirst Corporate Wear For £22.5m
Johnson Service Group has bought Dewhirst Group Limited's corporate wear business for £22.5 million in cash.
The payment includes £1.3m for a freehold property, as well as up to £1.25m of deferred cash consideration, which is dependent on the signing of additional customer contracts by Dewhirst over the next 12 months.
Dewhirst supplies corporate wear to a range of UK financial services providers and businesses in the hotel and leisure sectors. Turnover for the year ended January 2004 was £21.8m.
Last July, Johnson bought Dimensions, another corporate wear supplier, for £21.7m. In December, Johnson bought Yaffy, the manufacturer of clothing for most of the UK's police forces, for £3.5m.
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