Likewise makes biggest move to expand
December 15, 2021
Ambitious flooring distributor Likewise plc has made its biggest move yet to become a leading UK flooring company with the £30m acquisition of Kent-based Valley Wholesale Carpets.
The family-owned Valley business based in Erith has annual sales of around £50m and a substantial presences in the South East and the Midlands.
Likewise says the deal will increase its share of the UK flooring market to approximately 5.6 per cent. "boosting Likewise's position as one of the leaders in the UK market."
The group, headed by Tony Brewer as chief executive, has acquired and grown several brands as it expands across the UK and includes brands such as A&A, Factory Flooring, H&V, William Armes (Dandy), Bruce Starke and Lewis Abbott.
Likewise has agreed to pay £24m now for Valley Wholesale Carpets, with up to £6 million more payable later in deferred cash and the issue of new shares.
"The Likewise team have made significant progress over the last eighteen months and the acquisition of Valley Wholesale Carpets is a major additional step forward in the aspirations of Likewise to develop a meaningful flooring distribution business throughout the U.K.," said Tony Brewer, Likewise CEO.
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