Essential reading for retailers and suppliers in the home improvement market

Norcros acquires Croydex for £21.9m

Published: 1 July 2015
Tile and bathroom products supplier Norcros has bought out Croydex Group in a deal worth £21.9m.
Norcros acquires Croydex for £21.9m
Croydex, which designs, manufactures and distributes quality bathroom furnishings and accessories, is a privately-owned business held by the Brown and Marriott-Dodington families and managing director Nick McGrellis. In business for over 90 years, it supplies both the UK trade and retail.

The Andover-based company has extensive purpose-built warehousing and on-site manufacturing facilities. The business employs 82 people including an experienced management team, all of whom will be staying on.

Mr McGrellis is now in line for a payout of up to £0.9m, dependent on Croydex's performance over the next three years.

In the year to December 31 2014, Croydex achieved revenue of £19.9m, and pre-tax profit of £2.6m.

Norcros says the acquisition of Croydex is an important next step in its strategy to increase revenue to £420m by 2018, and that it will bolster its bathroom product range.

Said group chief executive Nick Kelsall: "The acquisition of Croydex is a compelling fit with our strategic growth criteria, broadening the group's product offer as well as providing a number of opportunities to drive revenue and procurement synergies."


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Printable View E-mail Bookmark

What do you think?

What's driving sales in the cleaning & laundrycare sector?

Latest reader comments

re: B&Q sales dip 2.5%, as showroom sales decline

B&Q bob
Screwfix sales are up because they position new stores close to B&Q stores but then price like for like products cheaper than within BQ ...

re: B&Q kicks off kitchen & bathroom recruitment drive

B&Q bob
Wickes are not alone, Wrens kitchens has seen large numbers of unappreciated BQ kitchen sales staff join them because of BQs attitude ...

re: excels in Which? website survey

Roger Bishop
This was my first visit to toolstation in farnham but it will definatly not be my last the service was exceptional staff were welcoming i ...

re: Graham Bell to head up B&Q as part of Kingfisher reshuffle

B&Q bob
Ms Laury has overseen perhaps the worst period of BQ history under her leadership, staff have had their wages cut while witnessing their ...

re: Screwfix opens 600th store as business continues to build

B&Q bob
Why is kingfisher giving screwfix lower prices to sell at than their BQ stores? Staff in B&Q suffer constant abuse from trade customers ...

Most read stories

Blog and Comment

Dawn of a new age in customer service

Customer service used to be about answering telephones and responding to written requests, but our fast paced, social media driven society ... Read More >>