Samson acquires British furniture brand Willis & Gambier
Hopes to strengthen European presence
Heath E. Combs -- Furniture Today, October 21, 2008
HONG KONG — Samson Holding, the parent of Universal Furniture, Legacy Classic Furniture and Craftmaster Furniture in the United States, has acquired the assets of British case goods producer Willis & Gambier.The acquisition allows Samson to extend its operations into Europe, said Mohamad Amini, president of Samson's Chinese manufacturer, Lacquer Craft. He said Willis & Gambier is a well-known brand in the United Kingdom and had about $70 million in sales in 2006.
Samson offered an initial $7.5 million for the company, which had been in insolvency in the U.K., according to a Hong Kong Stock Exchange filing.
A British management team had acquired Willis & Gambier two years ago and took on too much debt in the purchase, Amini said.
Samson appointed Mark Symes as managing director of the British company. Samson said he has been associated with Willis & Gambier for more than a decade and is well connected with the company's existing customers and other major retailers.
Samson, which primarily manufactures wood furniture, expects to capitalize on the Willis & Gambier brand and strengthen its sales base in Europe, Amini said. While Samson's brands are distributed globally, its reach in other countries is small compared with its U.S. presence, he said.
The product line of Willis & Gambier ranges from traditional to contemporary designs.
Barney Willis and Nigel Gambier started the company as a bed designer and importer in 1990. Near the end of that decade, it controlled about 14% of the U.K. bunk bed market, according to the company's Web site.
It then shifted directions into the premium furniture market, selling wood bedroom and dining room furniture. Its products are sold in House of Fraser, John Lewis, Laura Ashley and Marks & Spencer stores.
The acquisition was the first for Samson since last fall, when it purchased the Pennsylvania House brand from La-Z-Boy.
-
Samson Holding acquires U.K. brand
Nov 2, 2008
Merinos Home Furnishings opening display room, Boyles addition
‘Mega vessels' likely to boost capacity, stabilize freight rates
HOM Furniture adds flooring to six Twin Cities stores
Dan Masters joins Furniture Brands as VP, business development
21 companies from Turkey, Taiwan and China to exhibit at Showtime
Featured Company
-
Brandwise Inc.
Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more
VIEW ALL GALLERIES
