Gifts Today magazine

Scented success as Portmeirion finalise £17.5m deal for fragrance manufacturer

One of the leading homewares companies, Portmeirion Group, has acquired Lighthouse Holdings, one of the UK’s largest home fragrance manufacturers in a deal worth more than £17.5m.

Lighthouse own scented candle and reed diffuser manufacturer, Wax Lyrical, which export to more than 40 countries.

The Lake District-based company is one of Lighthouse’s leading brands alongside Colony and are sold in high quality stores together with ranges produced for some of the world’s leading luxury brands.

In the year to 31 December 2015, Lighthouse recorded a revenue of £13.8m, a pre-tax profit of £2.1m and net assets of £7.6m.

Together, Portmeirion and Lighthouse are expected to benefit from a wider product offering and access to a large customer base. Wax Lyrical’s high quality brands and Made in Britain pedigree represent a strong strategic fit for Portmeirion Group. Wax Lyrical are also expecting to grow its sales through Portmeirion’s existing UK customers, websites, retail outlets as well as export markets such as the US and South Korea.

Joanne Barber, the Managing Director of Wax Lyrical, will continue to run the business from its existing facilities in the Lake District following the Acquisition.

Lawrence Bryan, Chief Executive of Portmeirion, said: “We are proud to acquire a group delivering world class Made in Britain home fragrances. Together with our existing strong brands of Portmeirion, Spode, Royal Worcester and Pimpernel, these new brands will drive our business forward and offer significant opportunities for growth.”

Dick Steele, the Non-Executive Chairman of Portmeirion, added: “This earnings enhancing strategic acquisition by Portmeirion is an ideal fit of products, sales channels and people.”

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