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Denby Pottery is up for sale after ‘strong’ year

MDL090323A2 - Denby Pottery exterior

MDL090323A2 - Denby Pottery exterior

The owners of Denby Pottery have put the firm up for sale despite a ‘strong performance’ last year.

Denby Holdings Group is being sold by Hilco Capital after several companies offered to buy the firm despite it not being on the market.

Paul McGowan, chief executive of Hilco Capital said: “Following a strong performance in 2013, particularly in key export markets, we have received a number of unsolicited approaches from trade buyers seeking to purchase the business.

“As a result of this interest, we have thought it appropriate to appoint advisors to run a formal sale process.

“We have been very happy with the progress of the Denby group to date and we recognise that a major international player may be able to further expand the Denby businesses faster than we can achieve.”

Hilco has appointed Canaccord Genuity, am independent financial services firm, to pursue possible sale options.

In the sale announcement, the venture capital company said total sales of the ‘Denby’ branded product reached £44 million in 2013, an increase of ten per cent on the previous year.

A dispute between the Unity union and Denby saw a series of strikes last year which was settled by a vote in September. Factory workers took part in the action because they were offered little or in some cases no pay rise for five years, despite being asked to hit strict targets. The firm said tough trading conditions led to the pay freeze.

 

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