UPGS gobbles up bakeware firm as revenue soars to £64.7m

RETAIL supplier and brands house UP Global Sourcing has acquired one of the UK’s oldest bakeware brand as it reveals a 21% revenue hike to £64.7m.

The Chadderton-based company has acquired the George Wilkinson and Progress brands which can trace its roots back to the 1930s.

George Wilkinson began life in Lancashire as an agricultural hardware manufacturer before diversifying to become a world leader in superior bakeware.

UPGS has acquired the company and its sister cookware brand Progress from the administrators of former London-based PCS Brands, which manufactured and distributed bakeware, cookware and wine racks as well as the cutlery brand Viners.

The brands, which will be relaunched next year with new lines, will join the UPGS stable of British heritage brands which include Beldray, Russell Hobbs, Salter and Constellation.

In the 12 months to end of July 2015, sales rose £11.4m to £64.7m from £54.3m in the 2014 financial year.

UPGS said it has made a strong start to the first half of the new financial year with orders up 33% on this time last year.

Sales in the UK, which account for around 70% of the business, were up 8% in financial year to end of July.

In Europe, which makes up around 20%t, sales rocketed by 105% over the period, boosted by increased business from a number of European discount retailers.

UPGS, which designs, sources and supplies homewares, luggage and electrical products, trades with 36 countries worldwide.

Chief executive Simon Showman said the company’s strategy of moving away from manufacturing own label products to focusing on its brands is now paying off and he is expecting further growth across the UK and Europe in the next 12 months.

He said: “At the end of 2013, we took the decision to move away from own label and focus on growing our branded business. It has taken a little time and turnover for the 2014 financial year was fairly flat.

“However, the benefits of the refocus started to kick in during 2015 and we are now seeing the rewards. We expect this trend to continue and our order book is up on this time last year.”