Park Group plc
("Park" or the "Group")
Strategic Acquisition of Fisher Moy International Ltd.
Park Group plc, the UK's leading multi-retailer gift voucher and prepaid gift card business focused on the corporate and consumer markets, today announces the acquisition of corporate employee and customer engagement specialists, Fisher Moy International Ltd. ("FMI"), for an undisclosed all-cash sum.
FMI is profitable, debt-free and the acquisition should be modestly earnings enhancing for Park in the first full year of ownership. FMI will initially continue to operate under its existing brand and will remain at its current offices in Buckinghamshire which will act as an additional geographic presence for Park's southern corporate sales team.
A strategic brand engagement consultancy with over 30 years' experience, FMI works with a number of blue-chip clients such as Huawei, Close Brothers, Inchcape, Logitech and LV. It specialises in the creation of events, targeted incentive and reward schemes, and helps businesses to communicate more closely with their customers and employees.
The addition of FMI's experience and expertise will enhance further Park's position as a leading provider of rewards and incentivisation programmes to the corporate market. The added scale and track record of Park, coupled with its listed PLC status, will also assist FMI in marketing its services to large corporations.
Commenting on the acquisition, Chris Houghton, Chief Executive Officer of Park, said: "This acquisition is in line with our consistent strategy of new product development and enhancement and it will integrate easily into our corporate business. Having worked with FMI as an external provider for over a year to expand our online corporate offering, the synergies between our businesses became apparent and we are pleased to bring their additional capabilities into the Group. FMI also offers us an established presence in the South.
"We will continue to examine other best-fit strategic acquisitions which can benefit our Group offering and remain able to act should future suitable opportunities arise."
For further information please contact:
Park Group plc
Arden Partners plc
Tel: 0151 653 1700
Tel: 020 7614 5920
Tel: 020 7920 3150
About Fisher Moy International Ltd
Fisher Moy International Limited (FMI) is a strategic brand engagement consultancy based in Chilton, Buckinghamshire with more than 30 years' experience working with major blue-chip clients. From impactful events such as conferences and travel trips to targeted employee incentives and rewards, FMI's team of creative thinkers generate great ideas that drive better results. With experienced communications and events teams positioned under one roof working together smartly in order to communicate a client's message clearly, build brand loyalty, reward great performance and incentivise growth.