Ultimate Products, the owner, manager, designer and developer of an extensive range of value focused consumer goods brands, has announced that it has that it has entered into a conditional agreement to acquire Salter Brands Limited (“Salter”) from FKA Brands Limited. Salter is the UK’s oldest housewares brand. It dates back to 1760 and is the UK market leader for bathroom and kitchen scales.
In addition, the Company has announced a conditional equity fundraise of up to £15 million, which was heavily oversubscribed, to part finance the acquisition. The Company also secured a £10 million new bank facility, which along with its existing cash resources, will be used to finance the acquisition.
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