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Lettings and estate agent Belvoir has agreed to buy estate agent Lovelles for £2m.
The deal will be funded from existing cash reserves and is expected to be earnings accretive in 2020. The company said it is 'in line to comfortably achieve market expectations for the full year'.
Dorian Gonsalves, CEO of Belvoir, commented: 'Lovelles offers the Belvoir Group the opportunity to expand its franchise network significantly by a further 19 offices operating under a highly regarded regional brand.'
At 9:47am: (LON:BLV) Belvoir Lettings PLC share price was +4p at 125.5p