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TODAY'S OTHER NEWS

Rebranded London agency snaps up eight-branch independent firm

Portico has acquired all eight branches of east London agency Spencers, bringing the total offices in the expanded group to 20.

Spencers, set up 24 years ago, will continue to trade under its existing name, with managing director Alan Spencer and operations director Keith Cross retained as consultants.

“This critical acquisition supports our vision for the growth of our services and aligns with our mission to expand our presence in the marketplace. Since our rebrand [from Edmund Cude] customers have really taken to our friendly, insightful approach, and we are extremely positive about the outlook of the business with this latest announcement” says Portico managing director Robert Nichols.

Portico already has offices in north, west and south London. Portico has secured £10m bank funding continue its acquisition plans, and says it remains open to approaches from existing sales or lettings businesses looking to sell.

This latest acquisition follows the acquisition of Bushells in 2012.

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