Bathroom Brands has announced firm plans to expand into the USA following a cash injection from an unnamed ‘financial institution’.
The bathroom supplier said the investment will allow it to strengthen its position in its home markets of the UK and Europe, as well as branching out into the USA.
The value of the deal, and the investor, is unknown but the company has made no secret of its growth and investment plans. A year ago, Bathroom Brands unveiled its new £19 million headquarters and showroom in Dartford, Kent, and in October the company told kbbreview of plans to crack the USA.
Today’s announcement confirms the investment in those plans.
The full statement from Bathroom Brands is below:
Bathroom Brands is pleased to announce that a London financial institution has acquired a minority shareholding in Bathroom Brands, as part of their principal investments portfolio.
Bathroom Brands was founded in 2005 with a principal focus on quality control and logistics services for UK based bathroom retailers. Since 2005, through acquisition and organic growth, the business has evolved into a leading supplier of bathroom and sanitary products to retail, wholesale and trade in the UK and Europe.
With recognised and respected brands Burlington, Arcade, Britton, Clearwater, Crosswater, Simpsons and Bauhaus, Bathroom Brands has built a leading business known for excellence in design, merchandising and logistics.
Our ambitious five-year plan includes the development of an exciting new arm in the USA and a partner with international experience has been chosen to support us to develop the US operation.
David Hance (pictured) of Bathroom Brands said: “We have found a partner which shares our vision for the potential in the business, our passion for customer service and ourentrepreneurial spirit. We look forward to a successful partnership together.”