International staffing and recruitment group Empesaria has agreed to acquire 75% of temporary catering recruiter Lumley Employment Company.

In line with its growth strategy of acquisition across a balanced range of market sectors, the AIM-quoted has agreed to pay an initial consideration of £485,000, comprising £423,000 in cash and 66,666 new ordinary Empresaria shares. The proposed acquisition is seen as complementing the operations of another Empresaria subsidiary, Greycoat Placements, positioning the group more strongly to create a leading UK brand in the domestic services and catering recruitment market.

Empresaria chief executive Miles Hunt said: “Although we have built a strong international presence, with more than 40 trading subsidiaries in 19 countries, the UK remains an important market and we are delighted to have completed a bolt-on to our
existing Greycoat operations that we anticipate will offer further opportunities for continued growth.”