Cooper Parry Corporate Finance have advised on the sale of one of the UK’s oldest manufacturers of English fine bone china to leading ceramics manufacturer Steelite International plc.
Cooper Parry Corporate Finance and Flint Bishop LLP advised the shareholders of Royal Crown Derby, based at Osmaston Road, Derby on its sale to Stoke-on-Trent firm Steelite International plc. It is the impending retirement of chief executive, Hugh Gibson that prompted the sale of the business for an undisclosed sum.
Under the deal, production by the 200-strong workforce will remain in Derby with the launch of a new brand, Royal Crown Derby Entertains to provide fine bone china to the hospitality industry.
Mr Gibson said: “After careful consideration I have decided it is time for me to retire, and know I am leaving Royal Crown Derby in the very safest hands.”
“It has been a privilege to be the custodian of Royal Crown Derby for so many years and I am certain it will thrive and maintain its special place in the heart of the nation under Steelite International’s stewardship.”
Kevin Oakes, Chief Executive of Steelite International said: “This is excellent news for both companies. Like us Royal Crown Derby has a first-class reputation across the globe and we know that our expertise as a major ceramics industry player can only strengthen the Royal Crown Derby business offering and ensure they reach new heights of success”.
Ben Rookes, of Cooper Parry Corporate Finance who led the transaction, said: “We are delighted to have completed this deal for the shareholders of Royal Crown Derby. The sale to Steelite will ensure fine bone china manufacturing remains in the Midlands, carrying on a tradition which dates back to 1750. We wish both Steelite and Royal Crown Derby every success for the future.”
Legal advice was provided by Ran Oren, of Derby Law Firm Flint Bishop. Ran said: “This is a really exciting opportunity for Royal Crown Derby to break into new markets and secure its long term future. Steelite has acquired a fantastic brand from Hugh, who has devoted so much of his heart and soul into the business”.