Acquisition

RNS Number:4861P
AGA Foodservice Group PLC
08 September 2003



8th September 2003
FOR IMMEDIATE RELEASE


AGA ACQUIRES NORTHLAND-MARVEL FOR $21 MILLION


Aga Foodservice Group plc has acquired Northland-Marvel, the US manufacturer of
high-end professional style refrigeration kitchen appliances for both the
domestic and commercial markets, for $21 million (#13.3 million) in cash. The
acquisition will enable Aga Foodservice Group to offer dealers and consumers a
range of cookers and fridges comparable to that of the established US market
leaders.


Northland-Marvel's primary production facility is in Richmond, Indiana and it
produces under-counter and free-standing refrigerators.  In the financial year
to 31st October 2002 turnover was $40 million and profit before tax was $3.0
million.  Profits are expected to be up to $0.5 million lower in the current
year, but should strengthen moving into 2004.  Net assets at 31st October 2002
were $7 million.


Northland-Marvel will report to Iain Whyte, Managing Director of Aga Foodservice
Inc and Victory Refrigeration.  Northland-Marvel's Chief Executive, Gordon
Stauffer, will remain with the business for the next 3 years prior to his
retirement.


In the US there are over 200 Aga displays and 12 Aga/Domain stores showing Aga
in the innovative 'Great Room' setting.  As a result of this acquisition we
shall build on this platform and on the distribution structures of
Northland-Marvel, widening the product range carried by both and adding more
cooking products from Rangemaster in the UK. Northland-Marvel's commercial
sales, which account for around 14% of the business, will benefit from the link
with Victory, and new ranges will be launched in 2004.


With Northland-Marvel the Group will also develop a presence internationally in
upscale domestic refrigeration.  Northland-Marvel product will be sold in the UK
through the Group's established routes to market under the Aga and Falcon
brands.


William McGrath, Chief Executive, Aga Foodservice Group plc said, "With the
wider range of cooking and refrigeration appliances on offer, backed by the
marketing profile that Domain is providing in the US, the Group now has the
structure to make a real impact. We are taking commercial refrigeration
technology into domestic appliance markets, combined with the styling for which
we are renowned. Together with our other product ranges led by Aga, we have
created a strong commercial opportunity in our US business."


                                    (-ENDS-)

Enquiries:


William McGrath, Chief Executive, Aga Foodservice Group,plc    0121 711 6015

Jonathan Glass, Brunswick Group                                0207 404 5959

                                                               07974 982486


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