French mail order supplier Manutan Group has acquired Ironmongery Direct, the UK's largest specialist distributor of ironmongery for the trade.
It means a strengthening of Manutan's position in the UK market, where it is already present with Key, its long-time subsidiary, and Rapid Racking, acquired in 2008.
Based in Essex, Ironmongery Direct was founded in 1969 as a traditional ironmonger's shop. The past five years have seen enormous success for the brand, achieving 20% growth per year to £18.1m for the year ending December 31, 2012, resulting in an operating profit of 7.6%.
Said Ironmongery Direct's managing director Wayne Lysaght-Mason: "This is fantastic news for the business. Although we will continue to operate autonomously and as a subsidiary, the additional experience that the Manutan Group has, will further support our on-going, strong growth.
"The Manutan Group and its approach to business, its values, and commitment to people makes it an ideal fit for Ironmongery Direct."
Meanwhile, ceo of Manutan Xavier Guichard added: "We are really pleased to welcome Ironmongery Direct to the Manutan family of companies. We see huge opportunities from this strategic purchase to further develop our business model."