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2nd May 2008

Bradfords acquires Totem Timber (St Austell) Holdings Limited

On 1st May 2008, Bradford and Sons Limited acquired the issued share capital of Totem Timber (St Austell) Holdings Limited (“TT (St A) H Ltd”) and its subsidiaries.

TT (St A) H Ltd is a well-established builders merchants operating from a site at Daniels Lane, Holmbush, St Austell, Cornwall. At the Daniels Lane site, Totem Timber employs some 27 people (including part time staff). Totem Timbers business (trading as Totem Timber Limited) based at St Johns Road, Cattedown, Plymouth is not included as part of this acquisition and will continue to trade.

Andrew Merriam, Executive Chairman of the Bradfords Group said:

“We are pleased to announce the acquisition of Totem Timber (St Austell) Holdings Limited and delighted to welcome the Management and staff of Totem Timber to the Bradfords Group. The acquisition will enable us to strengthen our existing presence in Cornwall. In particular, in association with our Pool and Liskeard branches to enhance our coverage of the south west of Cornwall”.

Eric Scorse, a Director of Totem Timber (St Austell) Holdings Limited comments:

“The Board of Totem Timber (St Austell) Holdings Limited having made the decision to sell the Totem Timber business at the Daniels lane site, were anxious that TT (St A) H Ltd became part of a larger organisation with the necessary resources to continue development of the business. The Directors of TT (St A) H Ltd were therefore pleased that, following discussions, the TT (St A) H Ltd business is to become part of the Bradfords Group.”


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