UP Global Sourcing Holdings PLC Purchase of the Kleeneze Brand

TIDMUPGS

UP Global Sourcing Holdings PLC

14 June 2018

14 June 2018

UP Global Sourcing Holdings plc

"Ultimate Products" or the "Group"

PURCHASE OF THE KLEENEZE BRAND

Ultimate Products, the owner, manager, designer and developer of an extensive range of value-focused consumer goods brands, is pleased to announce that it has purchased the intellectual property rights of Kleeneze Limited ("Kleeneze"), a leading cleaning, laundry and homewares brand. The purchase is not classified as a significant transaction under chapter 10 of the Listing Rules.

The transaction includes the trademarks, domain names, websites and social media accounts of Kleeneze, which are being sold to the Group for an undisclosed amount by FRP Advisory LLP, the administrators of Kleeneze. The transaction does not constitute the purchase of a legal entity, and does not include the physical assets, databases, stock, employees or independent distribution network. Over time the Group plans to relaunch the Kleeneze brand with a range of laundry and floorcare products for sale into retail and via online channels.

Founded in 1923, Kleeneze is one of the longest-running home shopping companies in Britain. From its humble beginnings selling home-made brushes from a broom cupboard in Bristol, Kleeneze went on to grow in popularity and size to become one of Britain's best loved catalogue companies. It sells a range of Kleeneze-branded products across the cleaning, kitchen, home, outdoor, health & beauty, clothing, and Christmas categories.

Commenting on the purchase, Simon Showman, Chief Executive of Ultimate Products, said:

"We are delighted to be adding such a well-established and highly regarded brand as Kleeneze to our portfolio of British brands. It has an outstanding heritage with a long-standing reputation for value and quality, and we look forward very much to relaunching it with a new and innovative laundry and floorcare range.

This deal is consistent with our track record of making opportunistic acquisitions of brands and then successfully relaunching them, the most notable example of which was the purchase of Beldray in 2009, which is now our best-performing brand."

For more information on Kleeneze, please visit https://www.kleeneze.co.uk/

For more information on Ultimate Products, please contact:

Ultimate Products [phone]

Simon Showman, CEO

Andrew Gossage, Managing Director

Graham Screawn, Finance Director

Powerscourt [phone]

Rob Greening

Sam Austrums

Notes to Editors

Ultimate Products is an owner, manager, designer and developer of a series of well-known brands focused on the home, selling to over 300 retailers across 38 countries. It has six product categories: Audio; Heating and Cooling; Housewares; Laundry; Luggage; and Small Domestic Appliances. Its brands include Beldray (laundry, floor care, heating and cooling), Intempo (audio), Salter (kitchenware), Constellation (luggage), and Progress (cookware and bakeware).

The Group's products are sold to a broad cross-section of both large national and international multi-channel retailers as well as smaller national retail chains, incorporating discount retailers, supermarkets, general retailers and online retailers.

Founded in 1997, Ultimate Products is headquartered in Oldham, Greater Manchester, where it has design, sales, marketing, buying, quality assurance, support functions and warehouse facilities across two sites. Manor Mill, the Group's head office, includes a spectacular 20,000 sq ft showroom that showcases each of its brands. In addition, the Group has an office and showroom in Guangzhou, China and a newly established showroom in Cologne, Germany. In total, Ultimate Products now employs over 200 staff.

For further information, please visit www.upgs.com

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June 14, 2018 02:00 ET (06:00 GMT)