Anchor Hanover Group Acquisition (1077U)

TIDM38OI

RNS Number : 1077U

Anchor Hanover Group

28 July 2022

Anchor Hanover Group

28 July 2022

Anchor to acquire Halcyon Care Homes Topco Limited

Anchor, England's largest not-for-profit provider of care and housing for older people, announces expansion

Anchor has exchanged contracts to further expand its care home portfolio with the acquisition of the entire share capital of Halcyon Care Homes Topco Limited ("HC Topco") for a combined consideration of GBP59.09m.

The purchase, due to complete in Autumn 2022 once the CQC transfer of registration has taken place, will bring all the business and assets of HC Topco under the ownership of Anchor Hanover Group.

The 11 purpose built residential care homes, two of which are currently in development, are located in the East Midlands and the South of England - and will bring the total number of care homes operated by Anchor to 125.

The homes are leased from two institutional landlords with annual rent of circa GBP8m, with the exception of one asset which is being acquired on a freehold basis.

The acquisition is a key part of Anchor's Business Plan to have more and better homes where people love living in later life.

The deal substantially increases Anchor's care home estate and is the biggest care home acquisition by Anchor in recent years, following the purchase o f 24 care homes from LNT Group and five care homes from Cavendish Healthcare Group in 2015. Five homes were also acquired from Hadrian Healthcare Group in 2019.

Sarah Jones, Chief Financial Officer, said: "Our Business Plan sets out a clear growth strategy and these homes represent an excellent opportunity for us to provide more and better homes where people love living in later life.

"The homes will broaden our provision of care and extend our presence into more areas of the country. We'll be able to draw on and share best practice across these homes and the wider Anchor care home estate.

"Our focus is on providing high-quality residential care and housing, and we're very pleased to be welcoming residents and our new colleagues to the Anchor family."

ENDS

Anchor Hanover Group

Derya Filiz

Head of External Communications

The Heals Building Suites A & B, 3(rd) Floor

22-24 Torrington Place

London

WC1E 7HJ

07713085004

derya.filiz@anchor.org.uk

communications@anchor.org.uk

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July 28, 2022 06:30 ET (10:30 GMT)

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