Stoke-On-Trent-based homeware company Portmeirion Group, which trades under the Portmeirion, Spode, Royal Worcester, Pimpernel, Wax Lyrical and Nambé brands, has expanded with a London acquisition.
The company has snapped up the AromaWorks London brand, intellectual property and certain stock, trade and assets from AromaWorks Ltd, which is currently in administration.
AromaWorks manufactures a range of home fragrance products using essential oils in the health and wellbeing category, with a retailer customer base in the UK and US.
Portmeirion chief executive Mike Raybould said: "We are delighted to bring AromaWorks London into our family of brands. It has established an impressive base of UK and US customers in the last few years and is highly synergistic with our existing home fragrance business, Wax Lyrical.
"We have invested significantly in the last two years in our UK manufacturing and testing facilities and this gives us a great opportunity to further leverage both our production capabilities and our global sales infrastructure as part of our strategy to grow our sales, alongside improving the group operating margins over the next three years.
"AromaWorks has successfully opened its first US market customer account listings in the past six months and we look forward to supporting and enabling growth in that key market through our existing US sales and distribution operation."
Panmure Gordon acts as nominated adviser to Portmeirion, as well as joint broker with Singer Capital Markets.
Original article by Insider Media