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NATIONAL kitchens maker and retailer Harvey Jones has a new backer after private equity firm YFM agreed to sell its stake in the company.

 

Allied Irish Bank (GB) has acquired YFM's stake in the premium chain—which made £1.1 million on sales of £21.1 million in 2016—for an undisclosed sum.


YFM supported a management buyout of the company when it had just ten showrooms back in 2007. Today, it has a semi-national profile with 31 showrooms across England, Wales and Scotland.


Harvey Jones CEO John Curwen said: "We have enjoyed working with YFM and appreciated their support as an investor both through the economic downturn and in supporting the showroom rollout programme to date.


"The new funding obtained from Allied Irish Bank (GB) will help us to continue expanding the reach of the Harvey Jones brand as the premium, UK handmade kitchen retailer."



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