Victorian Plumbing, a leading bathroom supply company, has acquired its competitor AHK Designs, which trades as Victoria Plum, in a deal valued at £22.5 million. The acquisition resolves a previous dispute over trademarks and keywords, for which Victoria Plum was previously compensated £1.75 million. The purchase is cash and debt-free, subject to adjustments for normalised working capital, and is funded from Victorian Plumbing’s existing reserves. Victoria Plum, which had gone through administration and cost-cutting measures, is expected to break even by the second half of 2024. Victorian Plumbing’s CEO, Mark Radcliffe, stated that the acquisition aligns with the company’s growth ambitions and welcomed Victoria Plum’s team to the group.
Bathroom Supply, Retail, Mergers and Acquisitions,United Kingdom