Wed, 11 Dec 2024 | BUSINESS SALE
A 150-year-old DIY and decorating brand has been bought out of administration by Rotherham-based Paramount Retail Group securing 90 jobs.
Bartoline, based in Beverley, was founded in 1876 and is Europe’s leading manufacturer of decorating sundries for the home improvement industry. This includes White Spirit and paint solvents, fillers, sugar soaps, paint strippers and BBQ lighter fluid.
It has been bought for £23 million by Paramount taking its revenues to over £100 million. Bartoline’s integration into Paramount is expected to preserve its heritage and position it for future growth.
Bartoline appointed administrators Alvarez & Marsal on December 5th. In its most recent set of accounts for the year ending December 2023, it reported a widening in its pre-tax loss to £1.25 million, from £895,000 the previous year. Turnover rose to £23 million from £21 million.
It had net current assets of £1.2 million, down from £2.3 million.
The company blamed the cost of living crisis for hitting customer spend and higher cost prices. It has also likely been impacted by an uncertain housing market and interest rate hikes.
Paul Taylor, chairman of Paramount Retail Group, said: "Bartoline has been a trusted partner in countless home improvement projects over the past century, with a heritage and reputation for quality that make it an excellent addition to our portfolio. We’re proud to secure its legacy and look forward to driving its future growth through innovation and sustainability."
Paramount Retail Group includes Vital Pet Group and Pet Brands, as well as The Great British Confectionery Group, following its acquisitions of Bristows of Devon in 2017 and Crawford & Tilley in 2018.
Ravi Sharma, executive director of Paramount Retail Group, added: "Bartoline has tremendous potential. By combining its 100-year heritage with our resources and expertise, we aim to create innovative, sustainable solutions that resonate with today’s consumers. DIY is becoming more accessible than ever, and we’re excited to champion Bartoline’s role in empowering both seasoned professionals and first-time decorators."
Find out more about buying a long established business
An opportunity to acquire this outstanding kitchen and bedroom furniture centre situated in this imposing trading position in the heart of a Leeds suburb.
A well-established player in the architectural aluminium systems, door hardware and ventilation products market, based in the South of England and serving a long-standing customer base in the UK commercial construction industry.
Highly profitable home improvement company in West Sussex, benefiting from excellent trading positions in a residential, office, and commercial area.
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.