Lakes candle maker sold for £17.5m

PORTMEIRION, the  manufacturer which sells its pottery around the world, has bought Cumbria candle maker Wax Lyrical for £17.5m.

Wax Lyrical employs 122 people and is the UK's largest manufacturer of home fragrances, exporting its scented candles and reed diffusers to more than 40 countries.

Accounts for its parent company, Lighthouse Holdings, showed pre-tax profits of £2.1m on sales of £13.8m in 2015. A dividend of £2.0m was paid by Lighthouse this year, prior to the acquisition.

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