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Sameday's Denton to look for acquisitions

27.06.07

Charles Denton, the new owner of Samedaybooks, has said that the company will look to make acquisitions in order to build a larger business. Denton, whose £1m offer for the flagging retailer closed yesterday (26th June), also said that he hoped to sell the chain's software systems to other sectors.

Denton finally secured a majority stake in the business, which includes the five-store chain of Methvens shops, at the beginning of June, after launching his takeover bid in May. His stake is now just shy of 60%.

Denton said: "I am pleased to have acquired my holding in samedaybooks and look forward to working with the directors and staff to take the company forward with a number of new opportunities.  In particular, samedaybooks has established some valuable software systems for the book retailing market which I believe can be adapted and developed across other business sectors. We are also examining a number of possible acquisitions which, if successful, will build the company to a significantly larger business."

Samedaybooks announced trading losses of £274,000 for the year to 31st March 2007.

Retail Samedaybooks Charles Denton

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