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International conglomerate Nobia has agreed to buy UK kitchens supplier Commodore from its private shareholder in a deal worth up to £32m.


Sweden headquartered Nobia—whose main British interest is the retail chain Magnet—will pay £28m up front and up to £4m more dependent on performance and management remaining in situ for at least two years.


The deal also includes CIE Kitchens which, along with Commodore, is owned by founder and CEO John White. The brands operates in the private developer sector, primarily providing kitchens to new builds and remodels in London and the South East.


Commodore designs, manufactures and installs kitchens with a base at Grays, to the east of London, and is expected to post sales this year approaching £40m.


“[With] the acquisition of Commodore and CIE we enter the attractive private developer segment and strengthen our presence in the UK project market,” said Morten Falkenberg, president and CEO of Nobia.


“The acquisition is fully in line with our growth strategy to expand to markets and segments that complement our existing business and to achieve synergies.”