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Belvoir acquires White Kite for £4m
StockMarketWire.com
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Property franchise group Belvoir acquired White Kite Holdings 2021 and its two subsidiaries, White Kite Limited and Nicholas Humphreys Franchise for £4.0 million.
Nicholas Humphreys operates a national network of estate and lettings agents trading through 18 franchised and three corporate-owned offices, and is a full member of the British Franchise Association. It also specialises in student lettings, giving an overall revenue split of 87% lettings and 13% sales.
'The key strategic driver for the acquisition is that, like the Belvoir Group, Nicholas Humphreys is based on a franchise model underpinned by lettings, making it a good fit for Belvoir's multi-brand franchise strategy,' the company said.
'The acquisition is expected to be earnings accretive in 2021,' it added.
At 9:56am: (LON:BLV) Belvoir Lettings PLC share price was 0p at 135.5p
Story provided by StockMarketWire.com
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