Wed, 09 Apr 2014 | BUSINESS SALE
Fishing tackle maker and retailer Preston Innovations has been placed on the market, with offers invited exceeding £25 million.
Offers are being sought before the close of April from interested buyers for the Telford-based 30-year-old business behind several popular tackle brands.
While growth in Britain has been robust, a third of its sales come from continental Europe; the company has a presence in 30 countries, including through its Netherlands-based sister company Primo Distribution.
Since 2010 Preston Innovations’s turnover has risen by about 43 per cent to reach above £17 million. Founded in 1984 by David Preston, the business has a 75-strong workforce.
Birmingham-based Cattaneo has been tasked with seeking a sale and to advise Mr Preston and his team. Charles Cattaneo said they are expecting plenty of interest from buyers, wanting to take up some of the top angling brands in Europe.
He told Insider Media: “Market-leading consumer brands have continued to grow strongly through the recent economic downturn, and we expect those owned by Preston Innovations will command a premium price in the market.”
The sale was prompted by Mr Preston’s desire to take the business to the next stage of growth, having reached a place where the ‘foundation is strong”. He envisions that the buyer will have the “ideas and base to further expand both the business model and our international reach”.
Products sold by Preston Innovations include poles, seatboxes, rods and reels, hooks and line and clothing.
_____________________________________________________________________
Related information:
Businesses for sale
Now is the time to buy a business
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Presenting to the market a financially robust builders merchants business for sale, located in Merseyside.
A long-standing construction wholesale operation, freehold substantive site with three storey brick building.
01
|
May
|
Testing technology firm acquired at 3.5x revenue | BUSINESS SALE
MK Test Systems Limited, a Somerset company that designs and...
01
|
May
|
Portfolio of 24 northern pubs acquired by Punch Pubs & Co | COMMERCIAL PROPERTY
A portfolio of 24 pubs across the North East and Yorkshire h...
01
|
May
|
West Midlands engineering firm acquired in pre-pack deal | BUSINESS SALE
A specialist engineering firm based in the Black Country has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.