Steelite International makes first ever acquisition
CERAMICS manufacturer Steelite International has acquired Royal Crown Derby for an undisclosed sum.
It is Stoke-on-Trent based Steelite International’s first ever acquisition.
Royal Crown Derby and Steelite International have links spanning many decades, having both been part of the former Royal Doulton Group.
Royal Crown Derby will remain in independent hands after the acquisition and it will continue to manufacture from its base in Derby where it employs 200 people.
The company has an annual turnover of almost £7m.
Steelite International is a manufacturer and supplier of table top ranges for the international hospitality industry and has a turnover exceeding £66m a year.
The merger of the two businesses will also see Royal Crown Derby launch into a new market with a new brand ‘Royal Crown Derby Entertains’ providing fine bone china tableware to major hotels restaurants and hospitality venues throughout the world.
Kevin Oakes, chief executive of Steelite International, said: “This is excellent news for both companies. Like us, Royal Crown Derby has a first-class reputation across the globe and we know that our expertise as a major ceramics industry player can only strengthen the business offering from Royal Crown Derby and ensure they reach new heights of success.
“We have researched the international hospitality market very carefully over the past year and know that there is a market for fine bone china which boasts that genuine Made in England pedigree. ‘Royal Crown Derby Entertains’ will most definitely fulfil that niche.
Royal Crown Derby chief executive Hugh Gibson is to retire. He said: “It has been a privilege to be the custodian of Royal Crown Derby for so many years and I am certain it will thrive and maintain its special place in the heart of the nation under Steelite International’s stewardship.”
The dealmakers for the acquisition were Catherine Eley of Eversheds and Nick Dodd of KPMG acting for Steelite International and Ran Oren of Flint Bishop and John Bryant of Cooper Parry acting for Royal Crown Derby.
