Collapsed pottery firm acquired by consumer goods giant
Staffordshire-based RKW has revealed its acquisition of historic ceramics brand Wade, resulting in the creation of 100 jobs.
The consumer goods firm, which is the trading division of family-owned Sutton Venture Group (SVG), purchased the brand from administrators BDO after Wade went into administration in December 2022.
The demise of pottery giant Wade Ceramics, caused the loss of around 140 jobs. The firm, which had been producing ceramics in Stoke-on-Trent for more than two centuries, blamed its collapse on the loss of a major customer and the current economic situation.
Jobs will be created across RKW’s head office in Fenton and its 750,000 sq ft Staffordshire-based distribution centre, from which is sells products to major retailers such as Asda, Tesco, Argos and Amazon.
RKW, established in 1989 employs more than 600 staff across its offices in the UK, Hong Kong, India and China.
The company also designs, manufactures and distributes small domestic appliances and housewares for leading brands including Black and Decker, Lavazza, Morphy Richards, Tower, Smeg, Swan, Russell Hobbs and Breville.
SVG Chairman Rob Sutton said there had been “strong competition” during the sale process, particularly from the US, but is “delighted” that Wade will remain in Stoke-on-Trent.
He said: “Wade is over 200 years old and steeped in heritage. It is recognised in both the UK and America for its high-quality ceramic products.
“RKW has a talented team with a proven track record of brand building and Wade complements our existing portfolio of houseware brands. The brand is perfectly aligned to strengthen our ambitious international growth plans”.
Philip Jordan business restructuring Associate Director at BDO commented, “Whilst it’s sad to see the demise of companies like Wade, achieving a deal which will rescue the historical brand and create jobs across Staffordshire is great news.
“There was a lot of interest in Wade and after careful consideration, it was decided that the merits of SVG’s offer provided the best outcome for the interests of Wade’s creditors”.
