Cheshire-based home improvements group, Norcros, has announced the sale of its Johnson Tiles business in the UK to its existing management.
The move follows a strategic review by the Wilmslow-headquartered business which employs around 2,300 people in the UK, Europe and South Africa, and operates seven UK brands: Triton, Merlyn, Grant Westfield, Vado, Croydex, Abode, and Johnson Tiles.
Based in Stoke-on-Trent, Johnson Tiles UK turned over £35.3 million, with operating profit of just £0.5 million.
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.