Hilco Streambank has announced the completion of the sale of the intellectual property assets of British Ceramic Tile Limited, which fell into administration in January, to Al-Murad, Britain's largest independent tile and natural stone distributor and retailers which operates over 70 stores across the UK. The acquisition follows a competitive bidding process run by Hilco Streambank on the appointment of Anthony Wright, Alistair Masseyand Andrew Sheridan of FRP Advisory LLP as the Joint Administrators of British Ceramic Tile Limited.
Al Murad's acquisition includes: the "British Ceramic Tile" and "National Tile Week" brands; registered trade marks; the recently re-launched BritishCeramicTile.com e-commerce website; domain names; and an extensive portfolio of appealing product designs.
Prior to entering administration in January 2019, British Ceramic Tile was the UK's largest manufacturer and distributor of ceramic wall and floor tiles. It had a long-standing heritage and stellar reputation for quality products. With a history dating back to the 1870s, the British Ceramic Tile brand is a respected heritage brand associated with passion for British quality and design.
Hilco Streambank managing director Nat Baldwin commented: "We are delighted to have found a fitting home for the British Ceramic Tile brand, designs and other key assets, following a competitive sales process. We congratulate Al-Murad on its strategic acquisition."
Al-Murad's operations manager Asif Badat commented: "British Ceramic Tile is recognized as a leading ceramic wall and floor tiles brand globally, known for innovative British design-led products. We were determined to keep the brand in Britain. Following this acquisition, we are stronger positioned to provide not only our existing customers but now also ex-BCT customers with a wide range of creative, unique and high quality tiles which are sourced globally at very competitive prices. Please feel free to contact us for any queries you may have."