Park Expands into the Eurozone

RNS number: 9073U
Park Group PLC
25 October 2010
NEWS RELEASE Park Expands into the Eurozone

Park Group plc
("Park")
PARK EXPANDS INTO THE EUROZONE
ACQUISITION OF CELTIC HAMPERS AND FAMILY HAMPERS

 Park, the UK's leading voucher and prepaid gift card provider, is expanding into the Eurozone by launching a Euro version of its Love2shop voucher. This development follows Park's acquisition of the brand names and customer and agent databases of Dublin based Celtic Hampers and Family Hampers ("the Businesses"). Payment of the cash consideration of up to €1 million is dependent on the Businesses meeting certain performance criteria.

The Businesses do not currently offer vouchers and this will provide Park with an excellent platform from which to broaden its Christmas Savings range by launching its market leading vouchers into the Republic of Ireland. The Businesses have been providing Christmas hampers for many years and together have 4,000 agents with 25,000 customers and have secured orders totalling €10 million for Christmas 2010.

The Businesses will be rebranded and therefore benefit directly from Park's advertising and TV campaigns, which are widely viewed in the Republic.  Customers will be supplied by their existing provider for Christmas 2010, and Park will supply customers from 2011 onwards.

Chris Houghton, Managing Director of Park Group, said: "This is an exciting development for Park as it is our first international acquisition. It not only allows us to expand our product offering into a new territory but will also see the creation of a Euro based Love2shop voucher, which we believe has sales potential throughout Europe."

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