Partner Article

Brulines ends takeover bid

BEER monitoring company Brulines has ceased its eight-month pursuit of electronic payment firm Universe Group.

The Stockton firm had made a preliminary approach in September to Universe, which is currently valued at £2.9m.

Brulines supplies data to pubs to allow them to place more efficient beer orders and check for wastage, and also processes info on petrol in garages.

The business is still in talks with the group about “potential opportunities” and continues to own an 11.52% stake in the business.

A Universe statement said: “Universe looks forward to Brulines’ support as a major shareholder as the Board continues to seek to deliver value to all shareholders.”

In March Brulines acquired Energy Level Systems Ltd (ELS) for an initial £700,000 in cash to be followed by a deferred payment of up to £1.35m depending on pre-tax profits for the two years to the end of March 2012.

Its subsidiary Edensure, which captures data on petrol station forecourts, also recently entered a partnership with Indigo Retail Technology.

This was posted in Bdaily's Members' News section by Ruth Mitchell .