Nick Scali Limited (ASX:NCK) entered into an agreement to acquire Anglia Home Furnishings Limited for £3.5 million on April 24, 2024. Under the Acquisition, Nick Scali will acquire Fabb Furniture for a consideration of £2.00 and all of the secured debt owed by Fabb furniture for £3.5 million Nick Scali intends to pay £0.5 million to exercise the option to exit the existing distribution centre arrangement and also provide a net working capital injection of up to £6.0 million. The acquisition is funded through placement raise of £26.178 million (AUD 50 million).

The Acquisition is subject to limited customary conditions, and is expected to complete in mid-May.