Gauselmann Group’s AGC operator Praesepe Plc has continued to grow its business through the purchase of 25 Adult Gaming Centres (AGCs) from the William Clark operation. The sum of the venue’s acquisition deal has not been officially revealed, but the contract comes as part of the UK-based company’s strategy to consolidate its presence at its national market.
Speaking of the takeover deal, William Clark said that Teddy Clark’s AGC brand had been one his oldest ones after being established 40 years ago. He said that the sale of such a business came naturally, and revealed that the acquisition was finalised after the negotiations with Praesepe lasted for about half a year.
William Clark also praised Praesepe Chief Executive Officer, saying he was highly respected in the business and his company was known for providing the best-quality services in the industry.
The purchase comes as part of UK-located Praesepe strategy for growth. For quite some time, the company has been focused on takeover deals, including the ones for the purchases of Town and County Leisure, which was formed into Merkur Engineering after the acquisition was finalised.
That was not all. Another 85-machine FEC venue located in Wells-next-the-Sea, Norfolk, England was bought by the company in May. In addition, in July 2016, Praesepe opened a major Family Entertainment Centre (FEC) and Adult Gaming Centre (AGC) in Largs, Scotland.
The latest acquisition of the AGC operator boosts the Praesepe gaming locations to a total of 185. Most of them are Adult Gaming Centres, but in the company’s portfolio there are also Family Entertainment Centres as well as bingo clubs, including the one with the largest capacity on the territory of Europe that is currently situated in London.
The news of the acquisition was confirmed by Praesepe’s CEO Nick Harding, who shared he was happy to announce the takeover of the Teddy Clark’s AGC brand. He commented on the purchased AGC venues, saying the latter were not only excellently grown businesses located in affluent areas, but they were also run by experienced and skilful executive teams.
According to Mr. Harding, the latest deal of Praesepe was of paramount importance, especially considering the fact that the company had been focused on bringing “something extra” to its product range and presence in the business.
The operator’s Chief Executive Officer added that all businesses that had been purchased so far were large and very-well managed facilities, most of which were concentrated in East Yorkshire. He also shared his belief that the new additions would come as an excellent supplement to Praesepe core business and would help the latter consolidate its presence in the domestic gaming industry of the UK.
- Author
Olivia Cole
