UK DIY News
Better Bathrooms to be Acquired by Roxor Group
Better Bathrooms is to be acquired by Roxor group, formerly known as Ultra Finishing Group. Terms of the agreement have not been revealed.
Roxor's subsidiaries include Ultra Finishing, BC Designs, Niko, Portabella Shaw, Shanghai PTB Sanitary Ware and Fireclay Factory.
Roxor Group CEO David Cullen said the deal would make Roxor "a substantially larger group, effectively doubling its size and presence in the market place”.
"The acquisition of Better Bathrooms is excellent news for Roxor Group and Better Bathrooms. This will strategically sit alongside our other group companies.
“As a separate entity, Better Bathrooms has a unique proposition of linking retail to online and back from online to retail. It sits as part of the group portfolio and gives the business the growth opportunities that it requires.”
Better Bathrooms has fifteen stores across the UK and an e-commerce website.
For the year ended March 2017, the company reported a 0.4% rise in revenue (excluding rental income) to reach £59.2m, with losses of £1.5 million. In documents filed at Companies House, Better Bathrooms said that the trading environment was increasingly competitive and that Brexit tailwinds had affected currency exchange.
The company will continue to be run as an independent business by its existing management team.
Source : Insight DIY Team
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