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BBN to seek acquisitions under MD Berry

Berry Birch & Noble is to hit the acquisition trail follow ing founder shareholder and chairman Derek Berry&#39s decision to take control of the firm.

BBN will undergo a year&#39s consolidation before taking a serious look at possible deals following the collapse of talks last year to buy Moores Marr Bradley.

Berry took over as managing director of the company, which has 50 registered individuals, from John Cole two weeks ago. Cole is currently on holiday.

Berry is also looking to boost the company&#39s share price and market capitalisation, which currently stands at around £3m. Berry would like to see it above £10m.

Berry says: "I wanted to keep John as head of financial services while I took charge of the parent group but he felt it was time for a change. We will be looking for a new head of financial services in the medium term. It is no secret that our share price is not as good as it might be. I want to do something about that. In the short term, we will undergo consolidation. Once everything is right, I would like to think that we can make meaningful acquisitions."

He says that, in the current environment, many smaller IFAs will be forced to either join a network or look to merge with a bigger partner.

The shake-up at Berry Birch & Noble has seen non-executive director Sir Jeremy Black take over as non-executive chairman.

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