Acquisition

RNS Number:6414E
Gourmet Holdings PLC
27 September 2007

27 September 2007



Gourmet Holdings Plc ("Gourmet" or the "Company")



ACQUISITION

Gourmet, the London restaurant/cafe operator, is pleased to announce the
exchange of contracts to acquire Amato, the cafe/patisserie concept based in Old
Compton Street, London for #675,000 plus options as detailed below. The
acquisition consists of the leasehold interest in the property that Amato
operates from, associated operational assets, intellectual property and
goodwill. The Amato operational staff are also transferring to Gourmet.
Completion is expected to occur in the near future and is conditional on
landlord consent to the lease assignment.

The consideration of #675,000 comprises #650,000 in cash and #25,000 of shares
in Gourmet of which #67,500 cash has been paid as a deposit with the balance
falling due upon completion. The vendor, Shirepond Limited, will also be granted
options over the ordinary shares in Gourmet to the value of #150,000 that can be
exercised at any time between three and six years from the date of completion.
The option exercise price and share consideration element will be set at the
average of the three day mid market closing prices up to and including the day
before completion. Amato and the associated assets are being acquired at fair
value and generated unaudited turnover and profit before tax of approximately
#925,000 and #90,000 respectively in the year to 31 August 2007.



Neil Blows, Chairman, commented:

"The purchase of Amato is in line with the new Board's strategy of acquiring/
developing a cafe/patisserie concept complementary to the Richoux brand. We will
also utilize the quality authentic Italian cakes and pastries produced by Amato
to supply our Richoux outlets. We are confident that we can develop the Amato
brand further and enhance profitability."



Enquiries
Gourmet Holdings                     020 7491 3791
Neil Blows

Arbuthnot Securities
Nick Marsh                           020 7012 2000

Paul Vanstone
College Hill                         020 7457 2020
Justine Warren




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