Likewise looks to boost capacity after 29% sales lift
Flooring distributor Likewise has revealed a trio of property moves to boost capacity.
The group has agreed to relocate Likewise North East into larger premises in Newcastle, increase capacity at A&A in Manchester by 50% by using the adjacent unit and use Valley Wholesale Carpets’ distribution centre in Newport to target South West England and South Wales.
The Newport moves comes after the completion of the £30m takeover of Valley. David Stottor, Floorco commercial director will become md on 17 January with Simon Miller remaining as operations director. David Mitchell will take part in a handover period, 40 years after he founded the company.
Likewise says Valley will continue to operate autonomously from its existing distribution centres in Erith, Kent and Derby.
The group saw sales jump by 29% to £61m in 2021 - in mid-December it told shareholders sales were running at about £65m for the year - and says pre-tax profits will be about £1.6m.
‘The acquisition of Valley is a major step forward in the development of Likewise. Our intention is to accelerate the product, sales and marketing of the enlarged group to establish solid foundations to secure the development for future years,’ says Tony Brewer, Likewise chief executive.
‘Not withstanding other opportunities before the group, Likewise is well placed with the new logistics infrastructure to achieve its medium term objectives. The positive progress of Likewise in the last 18 months has resulted in sales revenue increasing by 29% to £61m in 2021 and expected profit in line with market expectations. This combined with the acquisition of Valley provides excellent opportunities for all our stakeholders, suppliers, customers, management, staff and shareholders. Many thanks to all involved for your contribution and support.’
The group’s Birmingham distribution centre (pictured) is expected to be fully operational at the end of the month.