Wallpapers business snapped up by European buyer
Holden Decor, which designs and creates fine wallpapers, has been acquired by Belgian group Grandeco for an undisclosed sum.
The takeover is part of Grandeco’s global expansion strategy and goal to establish itself as the pan-European market leader in the wall decoration sector.
Darwen-based Holden, with a 30-year heritage in the region, will continue to operate independently with its own studio, distribution, sales operation, customers, suppliers and strategic focus.
Through its acquisition by Grandeco the company will continue to grow as part of one of the world’s largest wallcovering groups.
Managing director Derek Holden, who founded Holden in 1991, will remain as managing director and drive future growth along with the rest of the management team and staff.
He said: “The fit with Grandeco is ideal as we complement each other perfectly by providing very distinctive products for the consumer and different approaches to the market.”
Pauline Rigby, partner and head of corporate at Forbes Solicitors, advised Holden on the deal alongside Helen Marsh, partner in commercial property.
Pauline said: “Holden is a brilliant Lancashire business with a rich heritage of creating fine wallpaper in Darwen – the birthplace of modern wallpaper production.
“This transaction marks a new chapter in that story as the company joins forces with an ambitious buyer which will help to deliver future growth. We’re pleased to have worked on this deal, which is a great result for all involved.”
Patrick Molemans, Grandeco chief executive, said: “When we reorganised the shareholdership in March 2020 we promised the market we would further strengthen Grandeco’s market power going forward with carefully-targeted acquisitions.
“With the acquisition of Holden Decor we acquire exceptional expertise in product design, coupled with outstanding quality and customer service.
“Holden Decor’s flexibility, speed of response, market awareness and adherence to its core values have given it an unrivalled reputation both in the UK and internationally.”
Grandeco Wallfashion Group was founded in 1978 and is one of the world’s leading wallpaper manufacturers.
The headquarters and production plant are located in Tielt, Belgium. Grandeco employs more than 300 staff and has six sales offices in Belgium, the UK, France, Poland, Russia and Germany.