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Ultimate Products acquires German kitchen electrical group Petra
StockMarketWire.com
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Consumer good group UP Global Sourcing, otherwise known as Ultimate Products, said it had acquired German kitchen electrical brand Petra, for an undisclosed sum.
The deal was not classified as a significant transaction under UK listing rules.
Petra was founded in 1968 in Bavaria and originally specialised in coffee machines before expanding its range into other areas of kitchen electrical products.
'In recent years, the brand has been less used by its current owner although market research shows that it remains well known to German consumers,' Ultimate Products said.
'Ultimate Products plans to relaunch and refresh the Petra brand with a range of electrical kitchen appliances.'
Story provided by StockMarketWire.com
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