The sale was for a cash consideration of £2.1million on a debt-free basis. Johnson Service Group says the proceeds will be used to reduce the group’s debt.
Johnson Cleaners, the retail drycleaning side of the Johnson Service Group, has now signed a three-year supply agreement with Christeyns on terms similar to those in operation with Alex Reid prior to the disposal.
Johnson Service Group chairman John Talbot said: “In July we announced the conclusion of a strategic review of our drycleaning business.
“As part of that review it was decided that Alex Reid was not a core business for the group going forward. We are pleased that we have secured a multi-year agreement to continue to use the services of Alex Reid under its new ownership.”
Laundry and Cleaning News plans to include further details in a future edition of the journal.
