RTD UK, the online kitchen appliance retailer, has bought out rival Biasco Ltd, also an online store specialising in built in appliances.

RTD says the move "dramatically propels" it towards a goal of being one of the UK's largest independent providers of built-in and freestanding kitchen appliances and kitchen accessories within five years.

RTD is a subsidiary of The Homestore Group Ltd, a group which trades through the sites www.rtd.uk.com, www.thehomestore.co.uk and now www.biasco.com.

RTD UK was established by Hugh McKie in 2006 to strategically acquire existing retailing internet businesses. The first acquisition was RTwoDesign in December 2006 and www.thehomestore.co.uk was developed in August 2007.
The company offers, it says, over 8,000 appliances from 50 manufacturers such as AEG, Belling, Bosch, Indesit /Hotpoint, Maytag, Neff, Siemens, Whirlpool, Zanussi and Smeg.

Md McKie said the Biasco acquisition is in line with the company's aggressive growth strategy which, he says, has seen the business treble in the past 18 months and he expects this acquisition increase revenue to £12m in this financial year.

"We expect this acquisition to significantly improve our competitive position in the online kitchen appliances market as well as other kitchen accessories such as sinks and taps, by delivering economies of scale and accelerating the growth of the business," McKie said.

"We are now seeing the effects that the credit crunch is having in the UK housing market, this in turn will have a knock on effect on high street sales of household purchases - consumers will be looking for greater value for money. In this context our latest acquisition allows us greater purchasing power and we are able to pass savings on to the customers."