Belvoir Group PLC (AIM:BLV) has made the strategic acquisition of an estate agency that specialises in digital marketing without the need for a high street presence.
Mr and Mrs Clarke Limited (MMC) was founded in 2015 by Paul and Alex Clarke and offers a specialist concierge-style personal estate agency model through a national network of 10 licensed partners, predominantly in Warwickshire, South Wales, the Midlands and North London.
"With the brokerage model growing within the estate agency sector, the key strategic driver for the acquisition is that MMC introduces a high-quality personal agency model to the Belvoir Group that is complementary to its existing high street brands", Belvoir said in a statement.
“The acquisition will offer customers a wider choice of how they interact with the group, whilst operating in a very similar way as a franchise business.”
The initial consideration is £200,000 plus an additional deferred element.
Dorian Gonsalves, Belvoir’s chief executive, added: "The acquisition of Mr and Mrs Clarke provides the Group with a new service offering, which will recognise the breadth of ways in which our customers want to interact with their estate agent and the different ways in which potential new franchisees or partners want to operate.
"Paul and Alex have created a really positive, vibrant brand that stands out from the crowd. The future success of their business will benefit from the credibility that the Belvoir Group can bring.”