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AGA Rangemaster Group plc has acquired the Mercury and Thermastone cooker brands from Lincat Group plc, the foodservice group, for £425,000 in cash. The brands generated revenues of £1.8 million in 2008. The brands are well known for their modern styling developed with leading designers, SeymourPowell. Mercury is as a professional standard cooker for the domestic market and Thermastone is a heat storage cooker, like AGA, but uses silicon carbide rather than cast iron. These are expected to be complimentary to our existing products.
Mercury will strengthen AGA Rangemaster’s business with premium kitchen dealers. A widened range of Mercury cookers will be introduced in 2010.
“The distinctive modern styling of Mercury and Thermastone adds another great dimension to our range of premium appliances. Strengthening our existing market positions shows we are preparing to respond strongly should the housing market start to move.”
William McGrath Chief Executive
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Enquiries:
William McGrath, Chief Executive 020 7404 5959 (today) 01926 455 731 (thereafter)
Charlotte Kenyon (Brunswick) 020 7404 5959
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