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British Ceramic Tile's IP Assets Acquired

Al-Murad store 725 x 500

British Ceramic Tile's IP assets have been acquired by the UK's largest independent ceramic tile and natural stone importer and retailer.  Al-Murad, which is based in Leeds, operates around 70 stores and franchises across the UK.

Nearly 400 people lost their jobs when British Ceramic Tile collapsed into administration and ceased trading in January 2019.  The Devon-based company was the UK's largest manufacturer of ceramic wall and floor tiles with a large and diverse product portfolio including high-quality ceramic, porcelain, natural stone and glass tiles.  Customers included large retailers such as B&Q, Homebase, Wickes, Victoria Plum and Bathstore as well as over 1,500 independent retailers.  Net sales for the year ending 31 December 2017 were c. £50.9m.

A competitive bidding process took place for the intellectual property of the business but terms of the deal were not disclosed.  The administrators of British Ceramic Tile appointed Hilco Streambank to handle the sale, which included the 'British Ceramic Tile' and 'National Tile Week' brands; trademarks; the BritishCeramicTile.com website; social media channels; domain names, and product designs.

Asif Badat, Al Murad's operations manager, said: "British Ceramic Tile is recognized as a leading ceramic wall and floor tiles brand globally, known for innovative British design-led products. We were determined to keep the brand in Britain. Following this acquisition, we are stronger positioned to provide not only our existing customers but now also ex-BCT customers with a wide range of creative, unique and high quality tiles which are sourced globally at very competitive prices."

Hilco Streambank managing director Nat Baldwin, said: "We are delighted to have found a fitting home for the British Ceramic Tile brand, designs and other key assets, following a competitive sales process. We congratulate Al Murad on its strategic acquisition."

Source : Insight DIY Team

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20 August 2019

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