Hilco Capital appoints Canaccord Genuity to sell Denby Holdings Group
Hilco Capital has appointed Canaccord Genuity to seek purchasers for Denby Holdings Group, the manufacturer of high quality tableware, which includes the Denby, Burleigh, Poole and HartleyGreens pottery brands.
Given Denby’s strong trading performance and increased customer demand across the world, Hilco Capital has received a number of unsolicited approaches from trade buyers seeking to purchase the business and believes that now is an ideal time to explore the Group’s future opportunities. Hilco has appointed Canaccord Genuity, a leading global, independent financial services firm, to pursue possible sale options.
The Denby Group witnessed strong trading performance throughout 2013. The brand is synonymous with British heritage, design and quality and is popular with consumers across the globe. The Company recently reported a strong fourth quarter, leading to total sales of the ‘Denby’ branded product reaching £44m ($73m), an increase of 10% on the prior year.
A year of intensive focus on export markets resulted in Denby’s business in North America and the Far East, in particular, growing at record rates to reach £12m ($18m) and the business enters 2014 with a healthy order book across its major markets.
Paul McGowan, CEO 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.”
This entry was posted on Sunday, February 2nd, 2014 at 12:00 pm.