Coopers of Stortford acquired by Damartex
Multi-channel retailer Coopers of Stortford has been acquired by home shopping brand Damartex in a £25 million deal.
Founded in 1995 by Neil Cooper, the family-owned business sells goods for the home, garden and leisure market and in 2012 saw sales increase by 40% to £29.6 million with EBITDA of £3.7 million.
A spokesperson for Damartex said that Coopers would be kept as a standalone business following the sale, and that the acquisition provided the opportunity to strengthen Damartex’s position in the UK market where it already has a presence with the Damart, Afibel and Sedagyl brands.
The Coopers management team will remain in charge of the business, reporting to Damart UK managing director Andy Hill, while Cooper will step back from day-to-day involvement.
The company currently has 160 employees and 1 400 000 customers in the UK.
Damartex, which is famous for its thermal underwear, was advised by corporate lawyers Walker Morris on the acquisition.
Debbie Jackson, the corporate partner who led the Walker Morris team, said: “Damartex has been a long-standing client of Walker Morris and as such I am particularly delighted to have been able to work with their management team on this key acquisition.
“Coopers of Stortford is a business which dovetails into the Damartex Group and provides opportunities for both businesses to achieve their goals.”
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