Chime announces today the acquisition of 55% of Ledbury Research Limited ("Ledbury") a market research consultancy based in London. Ledbury provides research and advice to brands who market and sell to high net worth consumers, including LVMH, Richemont, Gucci Group, UBS, Barclays Private Bank and Mastercard.
The initial investment is £120,000 of which £100,000 represents a subscription for new shares in Ledbury. There is deferred consideration payable. 60,000 new Chime shares will be issued in 12 months time conditional on the two vendors remaining at Ledbury and a maximum of a further 100,000 new Chime shares will be issued conditional on certain profit targets being met within 4 years.
Ledbury will become part of Chime's Opinion Leader Research Group.
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