Flying Brands sells Garden Centre Online brand to MBL

MBL Group has bought the business and assets of Listen2, Garden Bird Supplies and Garden Centre Online from Flying Brands for £720,000 in cash.

The Leyland-based business, which distributes home entertainment products, has been looking to diversify since losing Morrisons as its major customer in April last year.

It had been responsible for around three quarters of MBL's business. It decided to stop supplying to major retailers and instead attempt to sell home entertainment products directly to consumers and online.

The company said that these new purchases would build on this strategy and represent "complementary additions" to its existing product lines.

Listen2 is a mail order business which sells audio books to consumers. Garden Bird Supplies and Garden Centre Online are both online firms business which sell bird supplies and garden & outdoor leisure equipment respectively.

In the year ending 31 December 2010, the three businesses generated a combined operating profit of £600,000.

Peter Cowgill, chairman of MBL, said: "I am very pleased to announce the purchase of Listen2, Garden Bird Supplies and Garden Centre Online. The purchase broadens the scope of the group's operations and supports the board's strategic intent to strengthen the group."

Source : Mike Fahy – The Business Desk
www.thebusinessdesk.com/northwest/news/304155-mbl-buys-online-brands.html?news_section=4159