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N Brown buys catalogue clothing retailer Gray & Osbourn

03 Jul '06

2 min read

N Brown Group, the Manchester based direct home shopping company, has announced the acquisition of the share capital of Gray & Osbourn Limited for a cash consideration of £8.25 million.

The acquisition of this high quality womenswear catalogue retailer is in line with the Group's strategy to expand the number of brands it operates in the upmarket midlife ABC1 demographic group.

Gray & Osbourn is a profitable home shopping retailer with good growth prospects. For the year to December 2005 the company delivered turnover of £17.2 million and pre-tax profit of £0.7 million. The management team will be retained and will play a leading role in taking the business forward.

Gray & Osbourn is a leading catalogue brand in the UK premium home shopping market, providing elegant co-ordinates and versatile outfits for stylish, mature women. The brands are focused on contemporary fashion which is stylish and inspiring. The ranges are selected from the very best of European design, as well as Gray & Osbourn's own in-house collection.

N Brown Group Plc – The Group's principal activity is retailing through direct home shopping. It also provides fulfillment and financial services. It operates in the United Kingdom and the Republic of Ireland. It has three divisions. Home shopping offers a range of value for money products in clothing, footwear and household and electrical goods.

N Brown Group

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