During last week’s Home & Gift show in Harrogate, it was announced that the Portmeirion Group had acquired Nambé for a cash sum of $12m, a US based premium, branded homewares business with reported sales of $18m in 2018.
The acquisition provides the Portmeirion Group with additional scale in its key US market and strategically complements its existing US subsidiary while continuing to diversify the company into new homeware product categories.
Portmeirion Group intends to leverage the Nambé product ranges through its existing US sales channels and global sales infrastructure. The company also expects to benefit from the expertise of Nambé’s contemporary design consultants across the Group’s brands and ranges, a further cost saving.
Nambé’s key management team will continue in their roles, further strengthening the Portmeirion Group’s existing US based team.
“Having been working with Nambé for nearly a year on potential synergistic opportunities, we aredelighted to acquire this historic US brand together with a strong management team,” states Portmeirion Group’s chief executive Lawrence Bryan. “Nambé issynonymous with market leading design in homewares and we are hugely excited to take the brand onthe next part of its journey. Portmeirion Group has a great track record of adding value through acquiringquality brands that can then be leveraged through our global sales infrastructure. We are looking forwardto working with the Nambé team on growing the business.”
Added Dick Steele, Portmeirion Group’s non‐executive chairman: “The acquisition is highly complementary to our existing business and provides further access to the key US market. We see the acquisition as an exciting milestone for Portmeirion. The Board expects the acquisition to be earnings enhancing in the first full year of consolidation through top line growth along with sales and cost saving synergies.”
Nambé designs, sources, markets, and retails Nambé branded products in homewares. The company was founded in 1951 and its range now includes cutlery, glassware, dinnerware, kitchenware and home décor. Nambé’s sales are largely concentrated in the US through wholesale channels, online and through eight retail stores across New Mexico and Arizona.
Top: US based Nambé has been acquired by Portmeirion Group.
