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Salvation Army buys its collection supplier

The Salvation Army has bought its clothing collection contractor Kettering Textiles in a deal worth up to £12.75m.

The charity paid an initial £2m for the firm, with up to £10.75m to follow depending on performance.

It expects to make £34m pre-tax profit from the acquisition over four years.

Salvation Army Trading Company chairman Lt Col Ivor Telfer said: “It has always been part of SATCoL’s strategic thinking to create a long-term, sustainable and dependable income stream. This acquisition gives us that by providing us, in due course, with 100% of the profits from this scheme.

“This revenue stream will continue to help The Salvation Army fund its charitable work extending a helping hand to those who are homeless, friendless and in need in communities across the country.”

Kettering Textiles managing director Nigel Hanger said: “As I approach retirement age, I have made no secret of my desire to step back from running the business and the board of Kettering Textiles concluded that this transaction was in the long-term interest of our employees, customers and suppliers.”

Environment Secretary Caroline Spelman the deal represented a “fantastic business opportunity” for the Salvation Army. 

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