Tue, 20 May 2014 | BUSINESS SALE
The owner of Wedgwood, WWRD Holdings Ltd, is at the preliminary stages of planning a sale of the business, Reuters has revealed.
New York-based buy-out company KPS Capital Partners bought the pottery manufacturer out of administration in 2009 after its Irish owner had been haemorrhaging cash for some time, reporting pre-tax losses of £60.5 million in December 2008.
The business has bloomed under the ownership of KPS and today WWRD employs over 3,700 people around the globe. KPS is now in discussions with investment banks regarding a possible sale, with a view to a deal early next year.
Wedgwood still has operations at Barlaston, Staffordshire, with about 500 staff based at its factory.
WWRD Holdings is behind the Waterford, Wedgwood and Royal Doulton brands. Its products including crystal vases, bowls and glasses, china figurines and tea sets, are sold at US department stores including Macy’s and Bloomingdale’s, and independent retailers and wholesales in the US, UK, Ireland, Japan, Canada and Australia.
News was released of the approval for a £34 million redevelopment of Wedgwood’s Barlaston factory in early September 2013. The plans include creating a new head office and manufacturing facility that would create another 100 jobs. Production capacity would jump to three million pieces a year. The scheme also includes expanding its visitor 'experience' and building 209 homes.
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