Stanley Gibbons buys Benham for £1.5m

Collectible stamp business Stanley Gibbons has bought rival business Benham from Flying Brands - the home shopping business in which Scots entrepreneur Sir Tom Hunter holds a strategic stake - for £1.5 million.

Mike Hall, chief executive of Stanley Gibbons, said Benham was a "low risk bolt-on acquisition" providing good cash flows.

Benham turned over 2.96 million in the year to 1 January 2010, and made pre-tax profits of 420,000.

Stephen Cook, chief executive of Flying Brands, said the disposal of Benham continued the group's strategy of focusing on its core divisions of garden and gifts and on businesses with good online growth prospects.

Hunter owns a 29 per cent share of Flying Brands through his West Coast Capital investment vehicle.