Acquisition of north of England company provides additional UK expansion opportunities
Carpetright has announced plans to buy Storeys, a floor covering firm, which trades from 30 locations.
The acquisition will cost £18.5 million. In the year to March 3, 2006 turnover for the 80-year old company was £32.8 million.
Storeys will continue to trade as a stand-alone operation and retain its existing brand name.
Current chief executive of its Europe businesses, John Kitching will move in as ceo of Storeys and work with the existing managment team.
Carpetright is also expanding in Europe, particularly Poland.