Deals, Finance & Restructuring
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- RETAIL & DISTRIBUTION
The owner of Bensons for Beds will recoup the vast majority of the debt it was owed from the prepack restructure of what was Blue Group according to a new report by restructuring advisors.
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- DEALS & FINANCE
Ingka Investments, the Netherlands based operator of 378 IKEA stores worldwide, is to acquire a 49 percent stake in Ikano Bank with the option to buy the finance company outright at a later date.
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- BEDS & MATTRESSES
Profits fell at Silentnight last year as the U.K.'s largest bed manufacturer incurred higher costs including one-off legal expenses, a sign that its legacy pension challenges may be reaching a conclusion.
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- DEALS & FINANCE
Joules Group, the fashion and lifestyle company, has taken a decisive step into the furniture and home sector after agreeing to buy The Garden Trading Company, a fast-growing online retailer with a substantial wholesale arm.
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- UPHOLSTERY
Lectra, a major supplier of machinery, software and consultancy to U.K. and global sofa manufacturers, has agreed to acquire rival Gerber Technologies in a deal worth €300 million.
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- ECOMMERCE
Fashion retailer Boohoo Group has acquired the Debenhams brand and other intellectual property for £55 million, heralding its entry into the furniture and homeware market.
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- UPHOLSTERY
Vita Group has agreed to pay €6.1 million to acquire southern Italian flexible foam producer I.M.P.E from Natuzzi, the upholstery manufacturing giant.
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- TRADE & INDUSTRY
44 fewer U.K. furniture, floorcoverings and furnishings companies filed for insolvency in 2020 despite the pandemic hitting businesses across the country since the early spring of last year.
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- DEALS & FINANCE
Häfele, the furniture fittings and hardware conglomerate, is to acquire Moebelplus, an ecommerce business majoring in white goods and small appliances.
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- BEDS & MATTRESSES
Plans by Endless to invest in Silentnight back in 2011 were so far advanced that the turnaround firm had already drawn down funds, its managing partner has told a Disciplinary Tribunal investigating the conduct of advisors to the bed maker.
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- DEALS & FINANCE
NorthEdge Capital has strengthened its ties to the home furnishings sector after backing a management buyout (MBO) at an expanding decorative lighting business.
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- RETAIL & DISTRIBUTION
The turnaround investor that bought Homebase for a pound less than two years ago is considering selling the business after returning it to positive EBITDA in 2019 and reconfiguring its store network this year.
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- BEDS & MATTRESSES
Recticel is to launch a strategic review of its bedding business that could result in its sale after announcing the takeover of a Swiss company that will see it further its ambitions in the technical foams segment.
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- DEALS & FINANCE
Technology group ClearCourse Partnership has acquired The Swan Group, which provides furniture retail management software to some of the U.K.'s largest furniture retailers.
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- RETAIL & DISTRIBUTION
The moratorium preventing creditors from taking action against the group that lists Ponden Home Interiors among its roster of retail brands has been extended for a fortnight.
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- FLOORCOVERINGS
Carpet and flooring conglomerate Victoria is to raise up to £175 million through a preferred equity investment to bolster its armoury to buy up more of its rivals.
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- UPHOLSTERY
Recliner giant Man Wah Holdings has not given up its attempt to take control of HTL despite the already-completed sale of the leather upholstery colossus back to its founder.
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- RETAIL & DISTRIBUTION
Balance payment for 18-store off-price furniture and department store chain had been due just before lockdown, but remained unpaid six months on.
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- BEDS & MATTRESSES
Tempur Sealy International says it will "develop, expand and reposition" Sealy products in the U.K. after agreeing a buyback of the brand rights in a joint venture with the Dyer family, its longtime Asia-Pacific partner.
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- INTERNATIONAL
The new owner of the Habitat furniture retail business outside the U.K. will be granted an exclusive licence to operate the brand but will not immediately own the intellectual property.
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- DEALS & FINANCE
Egger Group, the wood-based materials conglomerate with a big presence in the U.K. market, has acquired a minority stake in an Italian company that makes decorative facings for furniture.
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- DEALS & FINANCE
Ilkeston based Belfield Group added foam and fibre products manufacturer Clinchplain to its roster of furnishings-related companies in an unheralded deal that completed in the days before lockdown.
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- RETAIL & DISTRIBUTION
The private equity house that acquired the national soft furnishings business Julian Charles earlier this year is on the hunt for more takeovers, with a specific eye on the U.K. furniture sector.
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- SUPPLY & WHOLESALE
Furnishings conglomerate Hunter Douglas has been told to divest at least 51 percent of its shares in window dressings etailer 247Blinds after a ruling by the U.K. competition watchdog.
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- FLOORCOVERINGS
Investment group Meditor Holdings has followed its takeover of Carpetright earlier this year with a second flooring deal, buying a predominantly online hard flooring specialist.
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- BEDS & MATTRESSES
Swedish beds conglomerate Hilding Anders has divested a key part of its French business, selling a €40 million turnover mattress maker to a CEO-led management buyout.
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- ECOMMERCE
Premium furniture, home and lifestyle retailer's assets were sold on a break-up basis to U.K. ecommerce rival.
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- BEDS & MATTRESSES
One of the world's largest mattress manufacturers and a longtime Sealy licensee is close to a rescue of the Sealy U.K operation at Aspatria in a deal backed by the U.S. based brand owner.
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- RETAIL & DISTRIBUTION
Halo Group will rebadge the Sofa Workshop business as Sofa Workshop by Timothy Oulton following its planned acquisition from DFS.
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- RETAIL & DISTRIBUTION
Halo Group has agreed to buy upholstery retailer Sofa Workshop from DFS Furniture Group, bringing its seven-year tenure of the brand to an end.
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- RETAIL & DISTRIBUTION
The administrators running the Lee Longlands independent furniture store business say no creditors will miss out and the six-store business will be returned to its owners if all goes to plan following their early-summer appointment.
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- BEDS & MATTRESSES
Eve Sleep says it is in "very early stage discussions" to acquire its rival Simba in a deal that would consolidate the direct-to-consumer mattress market.
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- SUPPLY & WHOLESALE
Homewares manufacturer and distributor Portmeiron Group has agreed to buy U.S. company Nambé LLC for $12 million (£9.5m) in a cash deal that extends its reach into the North American market.
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- SUPPLY & WHOLESALE
The owners of luxury goods group Clive Christian say it is "business as usual" for its furniture manufacturing division after its fragrance unit was sold.
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- NEWS
MA Platt, a small contract leisure and office furniture maker serving corporate clients, has been sold back to its owner in a prepack deal that provides continuity and saves jobs.
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