Chantrey Vellacott snaps up Target's Reading office

CHANTREY VELLACOTT has acquired and merged Target’s former Reading office into its fold.

Vellacott will see its Reading office double in size to more than 50 staff members, with a fee income of £5m.

Around 25 former Target staff will relocate to Vellacott’s Queens Road office.

Former Target directors Richard Frett and Mike McAllister become partners of the firm.

Negotiations between the businesses have taken place since the end of 2011, after Target went into administration.

Mike Tovey, managing partner of Chantrey Vellacott DFK, said: ‘‘We have built a very successful business in the Thames Valley area and this move will allow us to further exploit opportunities in the region.

“The Target team had an attractive portfolio of clients which will increase our work in certain niche sectors while also bringing us some larger and exciting clients. Its special expertise in tax matters will also add to our offer in that area.”