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(Your email address will not be published)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?

Are you confident of strong garden sales this season?

Latest reader comments

re: B&Q invites suppliers to pitch at Innovation Open Day

Brian Eacersall
Hi B & Q innovations Team.I have already sent in an e-mail outlining my design using the request to become a supplier route.However I ...

re: excels in Which? website survey

Muhammad idrees
Good service and price also good...

re: Mike Ashley calls Debenhams administration a “national scandal”

m orourke
How can senior management at debenhams stay in post whilst abdicating their responsibilies to a bunch of consultants to save the buisness ...

re: B&Q and Valspar partnership to "transform the paint market in the UK"

Tony Turner
A bit of context: first decorating undertaken in 1968, have continued to decorate at DIY and professional level ever since, Wife has ...

re: Builder wins Toolstation's prize draw pick-up

Brian Easton
Brilliant delivery, much help from Daniel and Shakil...