Thu, 05 Jan 2017 | BUSINESS SALE
Family-owned high street cobbler and key-cutters Timpson has snapped up the dry cleaning arm of Johnson Services Group for £8.25 million as it looks to move away from its traditional offering.
Johnson’s dry cleaning business, which includes the brands Johnson Cleaners UK, Jeeves of Belgravia and Jeeves International, posted turnover of £46.2 million for the 12 months to the end of December 2015, with adjusted operating profits of £2 million.
Timpson is well-known for its shoe repairs and key cutting services but it also offers dry cleaning services, which, together with mobile phone repairs, is one of its fastest-growing activities.
For Johnson, the deal cements its complete exit from the dry cleaning sector - over the last few years the company has been slowly whittling down its number of shops. Instead, the firm will focus on its textile rental business.
Chris Sander, Johnson chief executive officer, said: “We continue to successfully implement our strategic growth plan, with the disposal of the dry cleaning business enabling us to focus our efforts on the ongoing expansion of our textile rental activities.”
Timpson employs more than 3,400 people in the UK and operates more than 1,300 stores, many of which are small ‘pod’-style shops close to supermarkets. It also operates 110 Snappy Snaps franchises.
Find retail businesses for sale.
An established MOT and service centre positioned in the vibrant community of Portslade, Brighton, presents a unique opportunity for investment in East Sussex's automotive service industry.
A licensed restaurant in Brighton, East Sussex, featuring alfresco seating for 60 covers, is available for purchase.
LEASEHOLD
Opportunity to acquire a maintenance grooming equipment business in Brighton at a reduced price for a quick sale.
30
|
Jun
|
Specialist electronics manufacturer to be acquired in £20m deal | BUSINESS SALE
Landguard Nexus Limited, a specialist electrical and electro...
30
|
Jun
|
Modella successfully price-chips WH Smith deal by at least 23 per cent | BUSINESS SALE
Back in March 2025, private investment form Modella Capital ...
30
|
Jun
|
IFA consolidator secures £14.5m facility for buy-and-build strategy | BUSINESS NEWS
Futura Financial Services Group, a consolidator of UK indepe...
01
|
Nov
|
Serve Legal scores with mystery shopper acquisition | BUSINESS SALE
An Altrincham-based mystery shopping and compliance auditing...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.