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 +44 (0) 161 627 1400
Simon Showman, CEO
Andrew Gossage, Managing Director
Graham Screawn, Finance Director
Powerscourt +44 (0) 207 250 1446
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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END
NRAGGUUUQUPRGMW
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