Timothy Oulton buys out, from DFS group, The Sofa Workshop, a manufacturer of leather sofas. DFS, a British retailer actively playing in the UK, Spain, The Netherlands and Ireland, and listed at the London Stock Exchange, announced it publicly. The group’s sofas have been acquired by another home furnishings top player, founded by Tim Oulton in 1994 and offshoot of Halo Furnishings group.
According to the deal, the new owner is going to take the entire capital share of The Sofa Workshop. The transaction value will amount to 300,000 British pounds (about 334,000 euros): yet, its finalization is subject to approval pending before the free trade anti-trust authority. More specifically, the acquisition is about 20 selling stores in the United Kingdom along with online retail sales.
“After a careful evaluation, we eventually decided to sell Sofa Workshop to Halo – commented Tim Stacey, Chief Executive Officer of The Sofa Workshop –. This transaction deal is a great opportunity to Sofa Workshop. I would like to say thank you to all of our colleagues for their hard work and painstaking commitment, since we bought out the business, 7 years ago. I wish them the best of luck and success in the years to come”.
A specialist in the industry
Timothy Oulton home furnishings brand is very popular across Great Britain. Its renowned reputation mostly relies on its leather manufacturing. For example, armchairs and sofas, but also chairs, cupboards, furniture for pubs and home accessories. The brand was founded in 1994 by designer Tim Oulton: that business was the development of a small antiques shop formerly opened in Hale, near Manchester, by his father, Philip, in 1976. Leather has traditionally been a reference material to them.
Halo directly manages the tanning process, which takes place in Argentina through the Halo Touch branch. “Each cut of leather (aniline, editor’s note) undergoes a multi-phase process that aims at top-notch glossiness, touch and beauty – as highlighted on the company website –. Such process does not make use of any automation: in so doing, we make sure that each hide is unique, exclusively thanks to a personal touch and human sensibility. This is the secret of our vintage hides and their wonderful unstructured coat”.
Picture taken from timothyoulton.com
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