Shore Capital acts as Sponsor and Sole Bookrunner on proposed £34 million acquisition of Salter, the UK’s oldest housewares brand, and oversubscribed £15m fundraise for Ultimate Products

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.

For further information please contact:   

Shore Capital +44 (0) 20 7408 4090

Corporate Advisory: Edward Mansfield / Mark Percy/ Sarah Mather

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Adele Gilbert: +44 (0)74 8477 8331

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About Shore Capital

We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income.  We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM.  Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.

Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.

Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.