TIDMARE

Arena Events Group PLC

02 February 2018

News Release

2 February 2018

Arena Events Group plc

Arena Events Group acquires GLD Productions

Arena Events Group plc (AIM: ARE, 'Arena' or 'the Group') is pleased to announce it has expanded its product portfolio in the UK with the acquisition of specialist furniture hire business GLD Productions ('GLD').

GLD supplies furniture to concerts, music festivals, fashion shows, high profile sporting occasions and corporate hospitality events across the UK. GLD's stock and staff will be incorporated into Arena's Spaceworks Furniture Hire division at its Membury facility, with employees working under Managing Director Chris Piggott.

This acquisition, which is expected to add approximately GBP1.5m in annual revenue, is in line with the Group's strategy of continuing to identify growth areas and expand its product range in order to create maximum value for its clients.

Grahame Muir, CEO Arena Group UK & Europe commented:

"Since our 2017 stock market flotation we have remained focused on strengthening our offering to clients. The addition of new products and a highly experienced team that GLD brings will help deliver further growth within this sector. We are delighted with this outcome and the opportunity to bolster our services within the live events marketplace in the UK."

Graeme Dixon, GLD Managing Director commented:

"We are delighted to join Arena Events Group. To become part of a public company is a validation of the work we have done and provides security of supply for our clients well into the next decade. We look forward to growing our business under the Arena umbrella."

ENDS

Enquiries:

 
 
 Arena Events Group plc 
  Greg Lawless (CEO) 
  Piers Wilson (CFO)           +44(0)203 770 3838 
 Alma PR (Financial PR)       +44(0)208 004 4217 
 Josh Royston / John Coles 
  / Helena Bogle

Notes to Editors:

Arena Events Group plc is a provider of temporary physical structures, seating, ice rinks, furniture and interiors. The Group has operations across Europe, the US, the Middle East and Asia, and current clients include Wimbledon Tennis, The Open, PGA European Tour and Ryder Cup.

The Group services major sporting, outdoor and leisure events, providing a managed solution from concept and design through to the construction and integration of the final structure and interior. Contracts range in size and complexity from a simple equipment rental for a local outdoor event, to an integrated solution of multiple structures and interiors for a major international sporting event.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

February 02, 2018 02:00 ET (07:00 GMT)

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