Victorian Plumbing acquires Victoria Plum for £22.5m

Victorian Plumbing, a UK-based bathroom retailer, has announced the acquisition of rival online bathroom retailer Victoria Plum for £22.5m ($43.3m). The transaction will be funded from Victorian Plumbing's existing cash reserves.

Transaction snapshot

  • Deal value: £22.5m ($43.3m)
  • Deal multiples: Approximately 0.5x revenue
  • Deal type: Acquisition of entire issued share capital
  • Investors: Victorian Plumbing Limited (subsidiary of Victorian Plumbing)

The acquisition brings significant value to Victorian Plumbing through the Victoria Plum brand and its intellectual property. The company expects Victoria Plum to reach a break-even point in the second half of 2024.

The move follows Victoria Plum's recent administration and subsequent purchase by AHK Designs in a pre-pack deal. Victorian Plumbing plans to maintain Victoria Plum's business operations as usual while finalising the integration plan.

Victorian Plumbing CEO Mark Radcliffe expressed his delight in the acquisition, highlighting its alignment with the company's growth ambitions and the expected benefits for shareholders. He stated, "This acquisition represents another exciting strategic milestone for the company and, together with the investment in our new distribution centre, provides a unique opportunity to deliver increased shareholder return."

Victorian Plumbing and Victoria Plum had previously met in court over a trademark dispute in 2016, with both found to have paid to advertise infringing text in online search engine results.

Victorian Plumbing, headquartered in Skelmersdale, operates in nine locations and employs 600 staff. The company offers over 34,000 products to both consumer and trade customers.

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