Kitchen manufacturer Magnet has been acquired by a UK-based private equity firm, marking a return to British ownership and providing fresh backing for long-term investment in UK manufacturing and interiors retail.
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The company was acquired by Alteri Investors. The deal sees Magnet sold by Swedish parent Nobia Group, bringing one of the UK's best-known kitchen brands back under domestic ownership after more than 20 years. Magnet manufactures the majority of its kitchens at its Darlington factory, where it employs more than 450 people, making the site one of the largest dedicated kitchen manufacturing operations in the UK.
For interiors suppliers and manufacturers, the acquisition signals continued commitment to UK-based production at a time when many brands are reassessing supply chains, lead times and exposure to overseas manufacturing risk.
Magnet chief executive Sophie Rose described the investment as a "vote of confidence" in both the business and its people, pointing to momentum across retail, trade and B2B channels. The business has been investing in smaller-format showrooms designed to bring kitchen retail back to high streets, alongside growing partnerships across trade and contract markets.
Recent trading performance suggests resilience despite challenging market conditions. Like-for-like consumer sales are up 5%, average order values have risen by more than 12%, and the B2B pipeline has grown by 34% year on year. Magnet also returned to profitability in the last quarter.
Alteri Investors, which specialises in retail and consumer brands and already owns Bensons for Beds, said Magnet's vertically integrated model and UK manufacturing base were key attractions. The investor's experience with UK production-led businesses is expected to support further investment in capacity, stores and operational efficiency.
Magnet is planning continued UK investment, including the rollout of additional smaller-format showrooms and further development of its manufacturing capabilities, underlining the role of domestic production in the future of the UK kitchens and interiors market.
Source: www.google.com
