Wax Lyrical owner swoops for US firm in multimillion-pound deal
Listed pottery manufacturer Portmeirion has acquired a US based premium homewares business, which it says will add scale in a key market.
The Wax Lyrical and Royal Worcester producer has agreed to purchase Nambé, for a cash consideration of $12m (£9.5m).
Nambé has reported sales of $18m £14.3m) and adjusted EBITDA of $1.1m in 2018 and Portmeirion said the acquisition is expected to be earnings enhancing in the first full year of ownership.
Nambé designs, sources, markets, and retails Nambé branded products in homewares.... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...