Likewise Group plc (LSE:LIKE) has acquired a package of assets from Headlam Group plc (LSE:HEAD) and HFD Limited for £14.9 million in cash following the companies’ entry into administration.
The transaction is being funded from Likewise’s existing resources following its recent equity fundraising.
The assets acquired include Headlam’s approximately 90,000-square-foot freehold distribution centre in Thatcham, together with operating assets and inventory located at the site.
Likewise has also acquired the trade and assets of Crucial Trading and Concept Floors, along with principal intellectual property associated with the businesses. Around 110 employees are expected to transfer as part of the transaction.
Likewise Enters Nine-Month Inventory Agreement
Separately, Likewise has entered into a nine-month agency agreement with Headlam’s administrators to assist with the sale of remaining inventory through its distribution network.
As part of the arrangement, Likewise will occupy Headlam’s Coleshill site under an exclusive licence during the period.
The company’s board said it believes the acquisition makes Likewise the largest floor coverings distributor in the UK. The transaction increases the group’s distribution capacity and adds products and customers to its existing operations.
Likewise expects the acquisition to have a limited effect on earnings in 2026, with a positive contribution anticipated from FY27.
The company continues to target annual revenue of £300 million.
About Likewise Group
Likewise Group is an AIM-listed distributor of floor coverings in the UK, supplying independent retailers and contractors through its sales and distribution network.
The company distributes a range of flooring products and has expanded its operations through investment in its logistics network and additions to its brand portfolio.
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