Retailer identifying suitable acquisition opportunities
Birmingham, 22 October 2013. Mobile Fun, the UK’s leading online retailer of mobile device accessories, has announced that it is seeking suitable acquisition targets.
Mobile Fun already operates complementary brands, and is now looking to expand through the acquisition. Target companies include: mobile accessories retailers, larger eBay/Amazon businesses, mobile phone retailers, online retailers of technology products, or small distributors of mobile accessories.
Managing Director of Mobile Fun, Mohammed Hussain, commented: “Plans for organic growth are already underway, including our investment in a new distribution business, and now we are looking to accelerate company growth through acquisition. I receive several speculative approaches on LinkedIn every few months from businesses looking for a buyer. As we now have a formal acquisition process in place, we are expecting more businesses to get in touch.”
Mobile Fun regards any potential retail or online business acquisition as an opportunity to gain new routes to market, while a distributor of mobile accessories, technology or telecommunications products may support Mobile Fun’s recently announced distribution business.
Mobile Fun is considering businesses both in the UK and internationally, with a turnover between £500,000 and £10 million with profits of £100,000 to £750,000.
Hussain concluded: “We have achieved great momentum recently, including the launch of our brand into 24 new countries in the last 18 months. With our strong financial position, ambitious management team and proven e-commerce expertise, we are ready to grow our business even further.”
Mobile Fun has experienced its best year to date. The company announced record turnover and profits for its financial year ending 31 March 2013, with retail sales of £11.5 million. The offices in six countries and an online presence in 31 countries also reinforce the company’s position as a global business.
The acquisitions will be financed either from retained reserves, through the support of its existing investors or through Mobile Fun’s growth capital partners.
For more information on Mobile Fun’s international websites and wide selection of accessories and other product ranges, visit www.mobilefun.co.uk.
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About Mobile Fun
Mobile Fun is the UK’s leading online retailer of accessories for mobile phones, tablets and other mobile devices, offering a market leading product range from its extensive portfolio of international websites.
Headquartered in Birmingham UK, with a product range of 7,000 globally-sourced mobile accessories, Mobile Fun has successfully established a market-leading position within the competitive mobile, smartphone and tablet sectors.
Mobile Fun was ranked as the UK’s 7th ‘Fastest Growing Technology Based Company’ in the Sunday Times 2006 Microsoft Tech Track 100, was awarded the ‘Online Retailer of the Year’ title at the Mobile News Awards 2011 then again in 2012; won Best Online Business (Consumer) at the ECMOD Awards 2012, the Online Retail Awards 2011 and 2012 ‘Computers and Telecommunications’ category and What Mobile’s Best Accessory Retailer 2012. The company was also a finalist in the Online Retail Awards 2013 and is currently shortlisted in the What Mobile and Retail Week Enterprise Awards 2013.
For more information, please contact Ranbir Sahota at Vitis PR on 0121 242 8048 or ranbir@vitispr.com