文章基本信息

标题：Fired Earth buyout
作者：David Hargreaves
期刊名称：London Evening Standard
印刷版ISSN：2041-4404
出版年度：1998
卷号：Jun 26, 1998
出版社：Associated Newspaper Ltd.

Fired Earth buyout

David Hargreaves

CERAMICS, floor coverings and fabrics group Fired Earth today gave its blessing to an agreed takeover offer from a group involving management and venture capitalists, writes David Hargreaves.

The 345p-a-share offer values the group at more than GBP 20 million. The shares rose 16 1/2p to 341p.

Backing the offer is PPM Ventures, which is also bringing in former Tarmac chief operating officer John Lover-ing as chairman, while existing management is to take a substantial stake. Chief executive Nicholas Kneale is taking almost 20% of the new company structure. Fired Earth is based in Oxfordshire and operates 15 showrooms in England. It has also franchised another 13 in Britain and Europe. It had pre-tax profits of GBP 1.4 million in 1997, up from GBP 800,000.