Likewise Group (AIM:LIKE) has exchanged contracts on a new 60,000 square foot High Bay Distribution Hub in Corby for a total consideration of £9.57 million, with completion expected on 21 August.
The AIM-listed flooring distributor said the site will significantly expand storage, cutting and trunking capacity across its Likewise Floors Logistics Network once operations begin in January 2027.
The purchase comes as trading momentum builds: July sales rose 23.9% year-on-year, with year-to-date revenue up 18.3% on a like-for-like basis. Order intake and invoicing in August have started strongly, giving the group added momentum heading into its traditionally busier autumn trading period.
Chief executive Tony Brewer said the acquisition, backed by existing and new shareholders and facilities from the Group's principal bankers, gives it "significant flexibility... to become a meaningfully larger business than we have currently." He added that the expanded capacity will support manufacturing partners and service levels for independent retailers and flooring contractors.
News Intelligence what this means for the company
Likewise Group has exchanged contracts on a £9.57m Corby distribution hub—a 60,000 sq ft facility set to open January 2027—funded by existing and new shareholders plus bank facilities. The timing aligns with strong near-term momentum: July sales rose 23.9% year-on-year, August order intake is tracking well, and the company raised approximately £28.5m via accelerated bookbuild in late July, positioning it to absorb the capex and expand ahead of autumn peak trading.
The acquisition anchors the company's stated ambition to become "meaningfully larger"—the £9.57m outlay is material relative to the recent £28.5m raise but backed by demonstrated revenue acceleration (18.3% year-to-date on a like-for-like basis) and secured financing. Execution risk now centres on the January 2027 ramp and whether the expanded capacity translates to margin accretion or merely supports volume growth at current returns.
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