RM move into Findel’s territory
publication date: Jun 1, 2007
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author/source: Richard Taylor
IT company RM has won a major marketing contract to supply the sports kit for Tesco’s Sport for Schools and Clubs programme. Its subsidiary TTS, which it acquired for £11m in 2004, has beaten Findel who supply sports equipment to Sainsbury’s Active Kids. While the Sainsbury’s programme is far larger, this piece of business (£50m compared to £11m) extends RM and TTS’s relationship with Tesco. This is a real boost for RM because it shows that Tim Pearson’s strategy of broadening RM’s business base within the education market is paying off. While not trying to play down the significance of the win, it did come at the end of a year that has seen significant restructuring within Findel’s education business with sales falling 3% and profit declining by 6%.
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