Laundry group makes £52.6m acquisition
Date added:
29/04/2016
CHESHIRE-based laundry services specialist Johnson Service Group has acquired Portgrade Ltd and its subsidiary Afonwen Laundry Ltd for £52.6m. The debt free, cash free deal brings Afonwen, a supplier of high volume hotel linen operating from facilities in Pwllheli, Reading and Cardiff and with a substantial distribution depot in Leeds into the Johnson fold. Additionally, JSG said that it intends to place 33,061,540 new ordinary shares to raise approximately £28.7m, net of expenses. The acquisition and the placing are not i..
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