In a strategic move that expands its nationwide footprint, Likewise Group, a rapidly growing UK distributor in the flooring sector, has acquired a substantial freehold logistics centre in Ivybridge, near Plymouth, for £1.2 million. This significant investment not only boosts the group’s logistics capacity but solidifies its market presence, especially across Devon and Cornwall, creating new avenues for growth and deeper customer engagement.
This latest acquisition expands Likewise Property Group’s total logistics footprint to 15 million cubic feet, elevating the value of its freehold portfolio to an impressive £22.3 million. Funded entirely from internal resources, this strategic decision underscores the company’s robust financial position and operational resilience.
The Ivybridge logistics centre will play a crucial role in establishing Likewise South West, enhancing the group’s capabilities in serving regional customers. Additionally, it empowers Valley Wholesale Carpets, a key subsidiary, to strengthen relationships and further penetrate the market in Devon and Cornwall, regions critical to the group’s continued growth.
CEO Tony Brewer expressed confidence, highlighting Likewise Group’s robust start to 2025, evidenced by an 8.4% rise in total sales revenue in January, and an even more remarkable 13.6% growth from Likewise-branded businesses. Brewer also outlined exciting developments ahead, mentioning extensive product launches supported by dynamic marketing campaigns featuring innovative point-of-sale materials and display stands. These initiatives are expected to significantly bolster the company’s visibility among independent flooring retailers and contractors.
With this investment, Likewise Group now boasts comprehensive coverage throughout the UK, significantly enhancing its strategic market positioning and fortifying its financial health. The positive momentum from late 2024 has successfully carried over into 2025, reinforcing the group’s optimistic outlook as it advances towards achieving its medium-term business objectives.
Likewise Group PLC (LON:LIKE) is a distributor of floorcoverings and matting and has the opportunity to consolidate the domestic and commercial floorcovering markets to become one of the UK’s largest distributors in this sector.
