Franchise group agrees ‘transformational’ £28m deal
Drain clearance business Metro Rod has been bought for £28m by a franchise business that listed on the stock market last year.
Franchise Brands, which already operates four franchise businesses, intends to raise £20m in a share placing to fund the deal.
Macclesfield-based Metro Rod is a £21m-turnover group with 40 regional franchisees providing drain clearance and maintenance services.
Franchise Brands' directors "believe the acquisition represents a transformational step" for the business. It operated three brands - Chips... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
