Straight expands product range through acquisition

RECYCLING group Straight today announced the acquisition of Harcostar Garden Products in a £400,000 deal.

The Leeds-based firm said that the acquisition of the premium brand water butt, compost bin, watering can and other garden accessories firm would offer considerable scope to cross-sell its existing products and expand distribution channels in the UK and Europe.

For the year ended December 31 2008, Harcostar Garden Products, a subsidiary of Harcostar Drums, reported turnover of £1.04m with gross profit of £0.38m.

Jonathan Straight, chief executive of Straight, said: “This acquisition provides us with the addition of a premium brand to our portfolio which will compliment our existing product range.

“We also believe it will allow us to benefit from Harcostar’s excellent relationships in the UK and Europe.”