NEWS | Round-up
Aquadart acquires Cavalier Marketing
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AQUADART BATHROOMS has announced the acquisition of all Cavalier Marketing Ltd assets, including Cavalier Bathrooms and Tre Mercati. In a statement, Aquadart – which was the most successful brand within the Cavalier portfolio – said that Cavalier had been experiencing difficulties “in the last few months” due to adverse market conditions and “poor management decisions” made in 2022. In an interview in the May 2022 issue of kbbreview, Cavalier Bathrooms’ then MD, David Gannon, admitted that the company had faced raw material supply issues during the pandemic and that it was “on a journey of improvement”. The statement from Aquadart revealed that the acquisition – effective from March 7 – had been facilitated by Cavalier Marketing’s existing shareholders, UK-based private industrial investment group HLD Group, meaning that the ultimate ownership of the business has not changed. Will Hinks, general manager of Aquadart Bathrooms – who also became MD of Cavalier Marketing in October 2022 – said: “Aquadart Bathrooms has acquired all the brands and trademarks of Cavalier and will continue to supply the key product lines that are currently offered to the UK bathroom market.
“The senior leadership team at Aquadart will be bolstered via the support of prominent individuals in the bathroom sector and we look forward to sharing that information as it happens.” Hinks confirmed that all of Cavalier Marketing’s 150 employees have transferred to Aquadart Bathrooms Ltd as part of the acquisition.
He added: “Our intention is to maintain all current business operations, including our manufactured and imported product ranges.”
Redundancies planned as Magnet begins restructuring in the UK
MAGNET HAS announced that it is currently in the process of restructuring its business and that some redundancies have been proposed.
already
Some Magnet employees have started
posting on social
media that they are looking for new positions after receiving the news. A spokesman for Magnet told kbbreview: “Magnet is undertaking a restructuring to ensure organisational efficiency as we capitalise on the potential of the brand, adapt to market conditions and deliver on the long- term strategy of repositioning the brand and investing in an enhanced customer experience Regrettably, this has
resulted redundancies.”
The company did not reveal how many potential redundancies there might be.
In its statement, Magnet also said that there were currently no plans to close stores and pointed out that it had only recently opened a new store in Salisbury.
The spokesman said: “There are no 6 in some proposed
current plans to reduce the number of stores albeit we may on occasion change location to better serve our customers, recently opening a new store in Salisbury.”
The restructuring at Magnet follows the announcement by its parent company, Swedish kitchen giant Nobia, that it plans to close two if its UK factories.
At the time, Nobia said that plans for the UK business are part of a wider programme of strategic and cost initiatives aimed at saving over SKr 300 million (£23.55m) annually.
• April 2023
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