Victorian Plumbing snaps up Victoria Plum in GBP22.5 million deal

(Alliance News) - Victorian Plumbing Group PLC on Monday said its subsidiary Victorian Plumbing Ltd has bought AHK Designs Ltd.

Shares in the company were up 7.5% to 91.78 pence each in London on Monday morning.

AHK Designs trades as Victoria Plum, and is an online only UK bathroom retailer, headquartered in Doncaster, UK.

It has been purchased for GBP22.5 million.

"Given that Victoria Plum has recently been through an administration and there is already a cost reduction programme in progress, the company intends to continue to trade the business as normal initially, pending finalisation of our integration plan," the company explained.

It expects Victoria Plum to broadly break even in the second half of 2024.

Chief Executive Mark Radcliffe said: "I am delighted to announce the acquisition of Victoria Plum, a well-established brand with a solid base of customers, suppliers and product ranges. The acquisition aligns with our ambitions to accelerate our growth. We are pleased to welcome the existing Victoria Plum team to our group and look forward to continuing to provide customers with a fantastic range of bathroom products and accessories."

By Sophie Rose, Alliance News senior reporter

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