LADBROKES ACQUIRES JACK BROWN LTD. - Tuesday 12th of July 2005
Ladbrokes, the betting and gaming division of Hilton Group plc, has today
acquired Jack Brown (Bookmaker) Limited, the Welsh betting shop company with 141
shops. The private sale is for a consideration of £76 million, payable to
The purchase of Jack Brown Ltd. by Ladbrokes increases its shop numbers in Wales
from 29 to 156. The remaining 14 shops Ladbrokes is acquiring are located in
the Birmingham area.
Over the next six months the Jack Brown shops will be rebranded as Ladbrokes,
equipped with Ladbrokes industry-leading technology, comprising EPOS1, advanced
broadcast systems and Ladbrokes Xtra, a new dedicated channel offering
additional betting opportunities on international horseracing and sport. The
existing FOBT offering will also be expanded with the introduction of Ladbrokes
Cashquest FOBTs. Full refurbishment will take place over the next 18 months
with a capital investment programme of £12 million.
Ladbrokes expects the estate to contribute an EBITDA of £4 million in the second
half of 2005.
As part of the integration process Ladbrokes will ultimately close the head
office of Jack Brown in Pontypridd.
Commenting on the deal Chris Bell, Chief Executive of Ladbrokes Worldwide said:
We are delighted to have acquired this well established and well run estate of
shops in Wales. We know it has a great and promising future.
Commenting on behalf of Jack Brown Limited, Gary Brown Managing Director said:
The betting business has been run by our family for over 78 years, so it was
important that we found the right partner for our sale. We know that Ladbrokes
will ensure the business has a bright future.
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