Solihull floorings firm lays down growth plan with £3m acquisition
Likewise Group, the Solihull floor coverings distributor, has made another acquisition.
Its subsidiary, Likewise Floors, has bought Delta Carpets (Holdings) and its wholly-owned subsidiary Delta Carpets for £3m.
Delta, based in Leeds, is a distributor of carpets, residential vinyl, laminate, luxury vinyl tile and flooring accessories to independent flooring retailers in the North of England, Midlands and South Wales.
In the financial year ended 31 December 2021, Delta turned over £6.5m and profit before tax of £400,000.
Tony Brewer, chief executive of Birmingham-based Likewise, said: “The acquisition of Delta further develops the geographical presence and customer base of Likewise.
“The increased capacity created by the new Distribution Hub in Birmingham releases capacity in Leeds to enable the logistics capability to integrate Delta and provide an enhanced service to customers.
“Many thanks to the Delta directors and shareholders; Graham, Tim, Stephen and Stuart for the manner in which the acquisition has been conducted and best wishes for the future. Furthermore, we welcome the Delta team within the Likewise structure.
“We will provide an update on current trading next Monday 4 April 2022.”
Over the next few months Delta will be relocated to the Likewise Distribution Centre in Morley, Leeds. Delta will continue to operate as a separate business under the Delta trade brand but share Likewise Group’s logistics capacity.
All of the Delta employees will be offered the opportunity to transfer to Likewise. For sales and marketing, Delta will remain as an autonomous business in the Likewise structure and logistics will be integrated into the Likewise Distribution Hub.
The four Delta shareholders and directors will assist in this transition for between one and three months following completion.