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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aga Rangemaster | LSE:AGA | London | Ordinary Share | GB00B2QMX606 | ORD 46 7/8P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 184.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2246P AGA Foodservice Group PLC 27 December 2001 27th December 2001 AGA FOODSERVICE GROUP MAKES FURTHER BAKERY ACQUISITION FORMATION OF AGA FOODSERVICE INC In a further move into the bakery sector, Aga Foodservice Group plc (Aga) has acquired Adamatic, a US manufacturer of bakery equipment from Hobart Corporation for $5.2 million in cash. Its equipment is used to produce artisan breads, pizzas and baguettes. Based close to Aga's Victory Refrigeration plant in New Jersey it employs 50 people. In the year ended 31st December 2000 turnover was $13 million and operating profits were $650,000. Net assets on completion were $5 million. The acquisition follows the recent purchase of the specialist facilities management and manufacturing company, Miller Bakery Machinery (Bury) Limited ("Millers") announced on 21st December 2001. The combination of Adamatic supported by both Millers and the Group's successful 2000 acquisition, Mono, will create a strong base for rapid expansion in the changing US bakery market. As Aga expands in the USA it is strengthening its local management structure. Iain Whyte has been appointed President of the newly formed Aga Foodservice Inc which encompasses Aga Ranges as well as refrigeration and bakery operations. As a former marketing director for UK Consumer and Foodservice operations and with over a year in charge of Victory Refrigeration, he is ideally placed to deliver the Group objective of replicating in key areas in the US its strengths in the UK. William McGrath, Chief Executive of Aga Foodservice Group said, "The bakery market offers considerable potential internationally and with the acquisition of Adamatic we can start to create a strong international market position having expertise on both sides of the Atlantic." (-ENDS-)
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1 Month AGA Rangemaster Chart |
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