Topps Tiles has snapped up the brand and intellectual property of tile supplier CTD Tiles out of administration for £9m.
The tile specialist has acquired the supplier’s brands including CTD Tiles, CTD Trade and CTD Architectural Tiles, 30 of its retail stores, selected stock and all related intellectual property.
Topps said the retailer is “complementary” to its existing businesses and that the acquired stores and assets provide it with “the opportunity to make a meaningful entry into the housebuilder segment and expand its existing share of the architect and designer segment”.
The 30 branches acquired by Topps generated sales worth £20m in the year to June 2024 and will continue to trade under the CTD brand name.
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However, the deal did not include 56 CTD Tiles stores, which administrators at Interpath confirmed will be disposed of through the administration process.
Topps Tiles group chief executive Rob Parker said: “The CTD brand and assets are an excellent fit with our existing business and the acquisition creates a new and complementary specialist tile business within the Topps Group.
“CTD operates a different model to our existing Topps Tiles retail stores, with separate trade and retail offers within each unit and a number of market-specific sub-brands which are differentiated from our existing offer.”
Parker add that the acquisition would help it make “material progress towards our Mission 365 sales goal, its target to hit £365m in full-year sales over the medium term – around £100m higher than 2023 levels– and adjusted pre-tax margins of 8% to 10%.
“We are excited about the future of CTD within the Topps Group and look forward to welcoming our new colleagues to the business,” he added.
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