WGB.L Regulatory News (WGB)

18 Dec 2009 07:00



WALKER GREENBANK PLC

("Walker Greenbank" or "the Company")

Strengthens Distribution in Italy

Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co, Harlequin and Zoffany, is pleased to announce that it has strengthened its distribution arrangements in Italy through the sale of the Company's Whittaker & Woods Srl subsidiary to Milan-based B&B Distribuzione Srl. The transaction seeks to maximise the Company's brand sales in the important Italian market.

B&B Distribuzione has successfully distributed the Sanderson brand for more than 10 years and will now be responsible for the distribution of all of the Company's brands in Italy. 

Whittaker & Woods, which from a base in Rome distributed the Zoffany and Harlequin brands throughout Italy, has been trading at a small loss in the current year. B&B Distribuzione has acquired Whittaker & Woods for €80,000, the value of its net assets.

John Sach, Chief Executive of Walker Greenbank, said: "We have worked successfully with B&B Distribuzione for many years and we are delighted that it has acquired our Italian distribution business as there are clear benefits in having all of our brands distributed by one company. 

"It is particularly advantageous to bring together the distribution of Sanderson and Harlequin as both of these brands are performing particularly well. We are confident that this reorganisation will develop our sales in the important Italian market."

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