December 2, 2021
Kartell has completed a multimillion-pound takeover of radiator and towel rail specialist Vogue UK.
Kartell supplies heating and bathroom products to the merchant and independent sector and will continue to operate Vogue as a separate standalone business. The deal also included the acquisition of UK Bespoke Products.
Vogue employs more than 80 people, delivering more than £14 million in annual sales and Kartell plans to support further growth both the UK and internationally, where Vogue has an existing presence in the US market.
Alex Norford, chief executive of Kartell, said: “The acquisition of Vogue represents a clear and strategic step in our growth strategy and further establishes our position at the forefront of the UK radiator and bathroom sector. When the opportunity to partner with the team at Vogue arose, we immediately identified the strategic fit this acquisition represents and we are delighted to announce the deal.
“Everyone at Kartell is excited about working with Ray, Rob and the team at Vogue to address the multiple market opportunities in the UK, Europe and International export markets. Our shared focus of best-in-class quality and service will bring added value to all of the group’s customers and stakeholders.”
Ray Tunks, co-founder of Vogue, said: “Vogue is something I am very proud of and has a renowned history which has been developed by a highly skilled and knowledgeable workforce over the past 30 years. In this post-pandemic environment, I am confident the investment from Alex and Kartell will enable future growth and secure an exciting future for Vogue, all its staff and the Kartell Group.”
Vogue co-founder Robert Kelley added: “Vogue’s success can be attributed to the continual endeavour to provide the best-in-class service and high-quality products to our markets and customers. We wanted to find the ideal home for the business to complement and accelerate the work we have done as a team over the past 30 years and believe Alex and the wider Kartell group are the right people to take Vogue forward.
“The past 30 years has been a fantastic story for everyone involved and there have been an awful lot of people along the way who have made a considerable contribution. I would like to thank them all.”
The shareholders of Vogue were advised by MHA MacIntyre Hudson’s corporate finance team, with legal advice from Brindley Twist Taft & James LLP. Shawbrook Bank provided Kartell with a cashflow facility to finance the acquisition of Vogue and were advised by a team from Shoosmiths LLP, led by John Bew.
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