Cheshire-based wall coverings business Fine Decor Wallcoverings Ltd, has announced it has reached a definitive agreement to acquire CWV Wallcoverings Ltd.
The deal will ensure continued investment and growth for the business, which designs and supplies quality wallcoverings under the Crown, Vymura and Coloroll brands.
Anthony Garnett, managing director of Fine Décor, said: “I am delighted to announce the acquisition of CWV and welcome Steve Mulheron and his team into the company. I am confident that our combined talents and ambitions, coupled with the addition of CWV’s respected portfolio of brands, will significantly enhance our product offering and strengthen our expanding customer base.”
Steve Mulheron, managing director of CWV, added: “The market in the UK and internationally is changing on many levels and the strength of our brands, rich design heritage and loyal customers will be enhanced by the product portfolio and distribution opportunities of the enlarged group. We will be working hard to integrate both teams and harness the collective experience and expertise for the optimum benefit of the future business.”
Commenting on the transaction, Ken Partington, chairman of CWV said, “Since the acquisition in 2014, the business has made significant progress in re-establishing itself as a leading player, thanks to sustained investment in our product offer and people. We believe this move will allow the combined businesses to flourish, leveraging their respective strengths. It was important that we found a buyer who would retain the identity and values of CWV and its brands.”
Fine Decor was advised by Myerson Solicitors’ corporate commercial partner M. Akeel Latif, corporate commercial solicitor Terry Moore, employment solicitor Helen Littlewood and commercial property solicitor Lisa Bricknell.
Akeel Latif said: “It was a pleasure to work with Fine Decor and we have no doubt that the business will continue to go from strength to strength following this acquisition. We look forward to working with Fine Decor again in the future”.
For the next few months, CWV will continue to operate business as usual with a plan to integrate the businesses later in the year.
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