Johnson Tiles UK, a tile business based in Stoke-on-Trent, has been sold to its existing management team by listed kitchen and bathroom group Norcros Plc. Johnson Tiles UK designs, manufactures and sources ceramic floor and wall tiles.
In its accounts for the year to March 31 2023, the firm reported revenues of £35.3 million, which represented 8 per cent of Norcros group revenue, and operating profits of £500,000. However, Norcros said that the company had “absorbed cash in each of the last three years”.
“This sale will allow Norcros to focus on and accelerate the execution of our growth strategy. Johnson Tiles UK has been a long-standing partner of the group and we thank them for their significant contribution.”
Norcros plc (LON:NXR) is a leading B2B producer of branded bathroom and kitchen products for its UK, South African and selected export markets. The portfolio of eleven operating companies (7 UK, 4 South Africa) is characterised by strong individual brands, together providing product breadth and channel diversity from a strong supply chain base.