Bathroom giant swallows rival from across Pennines
LISTED Cheshire bathroom giant Norcros has acquired a kitchen company in South Yorkshire in a £4.8m deal.
Norcros has bought Abode Home Products, a privately-owned business held by managing director Darren Holliday and Swiss firm Croneta S.A.
Up to £3.9m of the sum has been settled in cash, with £900,000 payable in the year to March 31 2019.
Abode is a niche designer and distributor of high quality kitchen taps, bathroom taps, and kitchen sinks.
The South Yorkshire firm employs 21 people, and they, as well as Holliday who will be staying with the business following the acquisition.
Norcros turned over £118.7m in the half year to 30 September 2015, the business is aiming for revenue growth up to £420m by 2018, and has been on the lookout for strategic acquisitions, buying rival Croydex in June 2015.
