The fast-growing UK kitchen and bedroom makeover chain Dream Doors has been snapped up by a US franchise group, which has five other franchise businesses in the UK.
Neighborly, which describes itself as the largest franchisor of home services, said it was “excited” that Dream Doors was joining its portfolio of brands.
Founder and chairman Troy Tappenden will step down and depart from the company following the acquisition, but Dream Doors managing director Philip Carr will continue to oversee the business.
He said: “By joining the world’s largest franchisor of home services, Dream Doors will gain new vendor relationships, a powerful peer group of other Neighborly service brands and more.
“Supported by Neighborly’s expertise moving forward, I look forward to this new phase of growth for our brand.”
The deal includes 91 locally-owned and operated franchise showrooms of Dream Doors around the UK specialising in fully-fitted kitchen makeovers, replacement doors and counter tops and the installation of new appliances.
Neighbourly UK now consists of a total of six brands, including air conditioning supplier Aire Serv, cleaning business Bright and Beautiful and Drain Doctor.
The group has three support offices in Banbury, Manchester and Portsmouth.
“Dream Doors has delivered on its promise of ‘new life for old kitchens and bedrooms’ for the past 20 years, making the brand a perfect complement to Neighborly Brands’ community of premium home services,” said Mike Bidwell, president and chief executive of Neighborly.
“This brand furthers our expertise for Neighborly in today’s home-improvement industry and accelerates the franchise’s growth of in-demand home services throughout the UK.
“The successful acquisition of this value-add new brand builds on our position as a UK leader in the services, helping people to repair, maintain and enhance their homes and businesses.”
Jeff Meyers, vice-president of international operations for Neighborly, added: “We are always looking to strengthen and grow our portfolio of brands in the UK and Europe and establish new strategic partnerships to help us maximise the breadth and value of our franchise opportunities.”
Shrugging off Brexit, Meyers told kbbreview that the purchase underpinned Neighborly’s long-term confidence in Dream Doors and said all 91 stores were growing profitably.
Carr said that the business was currently focusing on the North West and North East for growth and expected any future economic uncertainty to only benefit Dream Doors as more households sought out “a value proposition for a premium service”.