Walker Greenbank PLC Extends Distribution Agreement with Kravet Inc. (6006U)

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RNS Number : 6006U

Walker Greenbank PLC

26 November 2019

 
   26 November 2019 
 

WALKER GREENBANK PLC

("Walker Greenbank" or the "Company")

Extends Distribution Agreement with Kravet Inc.

Kravet Inc. to distribute Clarke & Clarke and Studio G brands in Canada

Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, announces that it is building on its existing agreement with Kravet Inc., which has been distributing the Clarke & Clarke and Studio G brands in the US since August this year, by extending the agreement to include Canada.

The decision to extend the distribution agreement for the Clarke & Clarke and Studio G brands to Canada follows a positive start to the distribution of the two brands in the US by Kravet Inc., the premier US home furnishings resource available exclusively to the trade.

The Clarke & Clarke and Studio G brands were, until earlier this year, distributed in Canada by Robert Allen Duralee Group, which also formerly distributed the two brands in the US.

Walker Greenbank has a long track record of working with Kravet Inc. through the Company's manufacturing operations, which print wallpapers and fabrics for certain Kravet Inc. brands.

Lisa Montague, Walker Greenbank's Chief Executive Officer, said: "We have been pleased with Kravet Inc.'s progress in the distribution of the Clarke & Clarke and Studio G brands in the US and are therefore delighted to extend the agreement to include Canada, thereby giving us a single, strong distributor for the two brands in North America."

Cary Kravet, Kravet Inc.'s President and Chief Executive Officer, added: "We are pleased to be distributing Clarke and Clarke and Studio G to our Canadian clients. Canada is a vibrant market for Kravet, including brand new showrooms recently opened in Toronto and Vancouver. We look forward to this exciting opportunity."

For further information:

 
 Walker Greenbank PLC                           [phone] 
 Lisa Montague, Chief Executive Officer 
  Mike Gant, Chief Financial Officer 
  Caroline Geary, Company Secretary 
 
 Investec Bank plc (Nominated Adviser and 
  Broker)                                       [phone] 
 David Anderson / Alex Wright - Corporate 
  Finance 
 Henry Reast - Corporate Broking 
 
 Buchanan                                       [phone] 
 Mark Court / Toto Berger / Charlotte Slater 
 

Notes for editors:

About Walker Greenbank

Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives significant licensing income from the use of its designs on a wide range of interior products such as bed linen, rugs and tableware.

Walker Greenbank's brands include Zoffany, Sanderson, Morris & Co, Harlequin, Scion and Clarke & Clarke.

The Company has a strong UK manufacturing base, comprising a wallpaper factory in Loughborough and a fabric printing factory in Lancaster. Both factories manufacture for the Company and for other wallpaper and fabric brands.

Walker Greenbank employs more than 650 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Chicago, Paris and Dubai.

Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.

For further information please visit: www.walkergreenbank.com

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November 26, 2019 02:00 ET (07:00 GMT)