Likewise buys H&V Carpets
Carpet supplier H&V Carpets has been bought by Likewise Group.
Likewise is paying €1 plus a 10 year warrant for one million Likewise shares. H&V sells rolls of carpet to the UK and Germany from Meulebeke, Belgium. In 2018 it had sales of €7.07m.
The acquisition includes €1.47m of stock and the same of trade creditors.
Johny Peeters, H&V general manager and Pau Hugo, H&V sales manager will continue to be responsible for product development, sales and marketing.
‘The acquisition of H&V provides an additional dimension to our UK activities and a platform to develop a business in continental Europe from the facility in Meulebeke. We welcome Johny, Paul and their sales team: together we can maximise the many opportunities before us,’ says Tony Brewer, Likewise ceo.