Ideal Shopping agrees on cash offer

20th Apr 2011 14:23

TV shopping channel Ideal Shopping's management is teaming up with the private equity group Inflexion to buy the company.Ideal announced last year that it was reviewing its strategic options. It said today that its independent directors have agreed a sale worth 220p a share with 'Bidco', a vehicle that brings together Ideal directors Mike Hancox and Ian Jebson and Inflexion.Inflexion's current portfolio includes the clothing label Jack Wills.Ideal also said that trading for the first 13 weeks has been in line with expectations."The group's business model provides it with trading flexibility," said Ideal chairman Paul Wright. "That said, many other consumer facing organisations supplying similar customers to our own have experienced challenging trading conditions and a deteriorating outlook and the board remains conscious of the risks in the current environment as well as the opportunities."---RG