Ten Entertainment Group PLC (LON:TEG)

Ten Entertainment Group PLC (LON:TEG)


Share Price
224.00 p
Change
4 (1.82 %)
Market Cap
£145.60 m
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Ten Entertainment Group PLC RNS Release

Conditional Site Acquisition Agreement


RNS Number : 3655T
Ten Entertainment Group PLC
20 March 2019
 

Ten Entertainment Group plc

('TEG' or the 'Group')

Conditional Acquisition Agreement for Southport Site

Ten Entertainment Group ('TEG' or 'the Group'), one of the UK's leading operators of family entertainment centres, today announces that it has conditionally agreed to acquire a well located existing site in Southport ('Acquisition').

The completion of the Acquisition is conditional upon inter alia the landlord entering into a licence with the seller to assign the site and obtain a deed of variation to the lease. Upon completion of the Acquisition the Group's estate will comprise 44 sites.

The Acquisition is consistent with the Group's growth strategy and TEG has a proven track record of integrating acquired sites and delivering good returns.

This site will benefit from further investment as a result of the 'Tenpinisation' process, bringing its operations, systems, technology and customer experience up to the market-leading standards of the Group's wider estate.

Duncan Garrood, Chief Executive Officer, commented:

 

"The site in Southport is a well-established centre in an excellent location. This addition is further evidence of the Group's ability to successfully execute its strategy as it continues to grow the estate through selective acquisition and by driving organic growth." 

 

Ten Entertainment Group plc

Duncan Garrood,  Chief Executive Officer

Mark Willis, Chief Financial Officer

 

via Instinctif Partners

Instinctif Partners

Matthew Smallwood

Tom Berger

Tel: 020 7457 2020

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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