Connells tight-lipped over Humberts acquisition rumours

Connells Group has declined to comment on rumours that it is buying Humberts out of administration.

The company has neither confirmed nor denied the acquisition of some or all of the business, which called in administrators last month.

A Connells Group spokesperson told EYE: “It is not company policy to comment on speculation or rumour.”

Despite the lack of denial, it is understood that offers from different prospective buyers have been made for Humberts, and that the Connells bid may have been unsuccessful, while another has succeeded.

Administration of Humberts UK began on December 10, with Paul Stanley and Paul Barber of Begbies Traynor appointed joint administrators.

The franchisees who run their own businesses but trade as Humberts have continued since then.

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4 Comments

  1. smile please

    Will be a good deal all round. The franchises get at reliable partner with great training and Connells get a fantastic historic brand and instant income.

    Win / Win.

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    1. brokerofexcellence

      Makes sense – However, the corporate acquisition market does have a very recent run of bum deals. Countrywide? Although I suspect Connells won’t pay over the odds for agencies like 2012-2016 era Countrywide did…….. We’ll soon find out!

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      1. smile please

        Connells wont pay a penny. Just take it over i bet.

         

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  2. PaulC

    We can’t get a response from receivers. All very unprofessional, however the silence I assume means a deal has likely been done with someone.

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