It was announced on the London Stock Exchange at 07.00 this morning (16th February 2022) that Filta Group Holdings PLC have reached an agreement with Franchise Brands PLC for the merger of the two companies by way of a takeover offer from Franchise Brands to the shareholders in Filta Group Holdings PLC (“Filta”), the UK holding company of the Filta Group.
The Franchise Brands Board and Filta Board believe that the Offer has compelling strategic rationale, with the potential to deliver substantial benefits to customers, employees, franchisees, shareholders and other stakeholders of both Franchise Brands and Filta
Franchise Brands (www.franchisebrands.co.uk) operates a diversified portfolio of UK companies including a B2B division comprised of Metro Rod, Metro Plumb and Willow Pumps, and a B2C division that incorporates ChipsAway, Ovenclean and Barking Mad.
Filta’s UK business will operate independently alongside the other Franchise Brands Group Companies. Filta’s North American and European businesses will bring an added dimension to Franchise Brands who currently only operate in the UK.
Filta will continue to operate in all markets as a stand-alone business and brand – albeit under the new ownership of Franchise Brands plc.
All of Filta’s management team are staying with the business to drive continued growth across all regions.
For our staff, customers, franchisees and suppliers this merger presents huge benefits in terms of increased services and resources across the markets in which we operate.
Filta’s CEO and founder Jason Sayers will be joining the main Franchise Brands plc board and Brian Hogan, Filta’s current CFO will move to become Group CFO for Franchise Brands plc.
The deal will take a few weeks to complete as we work through the necessary steps to comply with the regulations that apply to publicly listed companies. We are all very excited to be part of this enlarged group.