Beds and upholstery manufacturer Airsprung Group plc has announced the sale of Collins & Hayes Furniture Limited to Wessex Bristol, with the details of the transaction undisclosed.
Wessex Bristol, owners of upholstery manufacturer and retailer Wesley-Barrell, revealed that it intends to provide ‘great opportunities’ to Collins & Hayes following the acquisition.
Hastings-based upholstery manufacturer Collins & Hayes has been the subject of significant restructuring over the past two years and has benefited from considerable investment in the process.
The Airsprung Group board said that the best long term interests of all of the stakeholders in the business are best served by becoming part of the specialised, upholstery focussed organisation, which would be able to provide greater opportunities.
Matt O’Flynn, managing director at Collins & Hayes, said: “I am excited to work with Wessex Bristol to continue the work we have been doing for the past 20 months, investing in the infrastructure of Collins and Hayes and bringing to market fabulous new product whilst promoting and growing the brand, at a time when we have just won the Best UK Manufacturer Award for 2016.”
A spokesman for Airsprung Group wished Collins & Hayes all the success in the future, and confirmed that the Cavendish brand is being retained and did not form part of the sale process, stating that the group are very focussed on developing the Cavendish brand.