Britain’s biggest tile seller has taken a majority stake in a family-owned tiling supplies business.
Topps Tiles has bought a 60 per cent share of Pro Tiler, an online operation which is based just off the A45 between Northampton and Wellingborough.
Pro Tiler was launched in 2010 by husband and wife team Andy and Wendy Bucknall and their sons Sam and Todd, on the back of their tile fixing business.
They saw a gap in the market for a “one-stop-shop” where “busy tillers” could go online and order all their “tools, trim, and associated products from one place at a good price”.
Topps Tiles, which is based a few miles up the M1 in Leicester, said it paid £5.3 million for the stake, and has plans to buy the remaining 40 per cent after March 2024, assuming certain profits are achieved.
As part of the deal, Andy and Wendy Bucknall will retire from Pro Tiler while their sons will continue to run the day-to-day operations.
Topps said Pro Tiler was a recognised respected brand within the tiling market with three online businesses – protilertools.co.uk, northantstools.co.uk and premiumtiletrim.co.uk.
Topps chief executive Rob Parker said: "Pro Tiler is a well-respected brand with a strong customer service ethic, which fits closely with our core values.
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“The acquisition of an online specialist supplier to trade customers complements our omni-channel retail business and commercial brands.
“It also moves us closer to our 20 per cent market share goal of '1 in 5 by 2025' while maintaining our specialism of tiling and related products.
“I look forward to working with Sam and Todd Bucknall and helping them to take this successful business forward into the next stage of its growth.
“The development of our digital offer remains an important area of focus for the group and we have plans in place to expand this further in 2022.”
A Topps statement said: “Pro Tiler is expected to benefit from the group's buying scale, flexible supply chain and financial resources to support its further growth.”
In the year to March 31, 2021, Pro Tiler reported turnover of £9.3 million and pre-tax profit of £1.1 million. In the current year, the business has continued to grow and the turnover in the 12 months to January 31 was £11.9 million.
In a trading update Topps Tiles said its own like-for-like sales for the last nine weeks were up almost 20 per cent on pre-Covid levels two years ago.
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It said gross margins were also up and pre-tax profits should be in line with forecasts.
Topps Tiles has 314 stores, 5 commercial showrooms and three trading websites – www.toppstiles.co.uk, www.parkside.co.uk and www.stratatiles.co.uk.
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