Warrington based white goods company, Premium Appliance Brands (PAB), has acquired the appliance division of Bernstein Group Holdings in a deal on which PAB were advised by Manchester law firm, Cobbetts.
PAB, which designs and sources appliances for a number of distributors and retailers under the Cuisina, Eurolec, Sarena and Kompact brands, was established in 2002. It has since grown quickly with turnover increasing from £3 million in 2003 to £5.6 million in 2004, and it is estimated to grow to £10 million in 2005.
Guy Weaver, Managing Director of PAB, said: “The acquisition of the appliance division of Bernstein Group Holdings provided us with an ideal opportunity to quickly expand our brand and product offering. We will now concentrate on integrating the two businesses to ensure that we can provide consistently high levels of service and may, potentially, consider further acquisitions to grow the business in 2006.”
Ian Riggs, partner at Cobbetts who led the deal for PAB, comments: “Premium Appliance Brands is a young and dynamic company with ambitious plans for growth. The Bernstein acquisition was the first deal that we have completed for the company and I look forward to working with Guy and the management team again in the future.”
Bernstein Group Holdings was advised internally.