A historic manufacturer of paint brushes and tools which opened for business almost 90 years ago has been acquired by a Norwegian group in a £55 million deal.
Bromsgrove-based LG Harris has been bought by Orkla which said it was doubling its operations in the house care sector as a result of the deal.
Family-run LG Harris manufactures brands such as Harris, Lynwood, Harris Victory and T-Class, with the majority of is revenues coming from the 海角视频.
READ MORE: {}
Bjørn Drabløs, chief executive of subsidiary Orkla House Care which made the deal, said: "With well-established brands and solid customer relations, Harris holds a leading market position in the 海角视频.
"Orkla House Care and Harris are a good fit.
"With the acquisition, Orkla House Care is significantly strengthening its presence in the 海角视频 and expanding its portfolio in the DIY market."
Orkla House Care owns the Jordan, Anza, Spekter and Hamilton brands, supplying to the domestic market in the Nordic region and professional sector in the 海角视频.
Headquartered in Oslo, the wider Orkla business supplies branded goods for the consumer, out-of-home and bakery markets and is listed on the Oslo Stock Exchange, employing around 14,700 staff and posting turnover of circa £2.8 billion in 2015.
Most Read
LG Harris owns a factory in Stoke Prior near Bromsgrove and Guangdong Province, in China, employing around 1,000 employees.
It also owns 50 per cent of a joint venture with a local partner in India, serving the Indian market, and a minority shareholding in a painting tool manufacturer in Sri Lanka, turning over a total of £61 million.
Harris was founded in 1928 and is owned by the Harris family, together with the company's management and employees.
The deal is contingent on the approval of the 海角视频 competition authorities.