Methven Goes Global With Purchase | Showering Enthusiast

Stuff.co.nz:

Shower and tapware company Methven is aiming for the big league with a $59 million British acquisition that will nearly double its revenue and more than triple its distribution reach.

“This is certainly an exciting day for Methven. We’ve always had an ambition to be global and this puts us well on our way,” managing director Rick Fala said yesterday.

The company is buying privately owned Deva Tap Company, headquartered near Manchester. It has 6 per cent of the British “brassware” market, including taps and showerware.

Deva had earnings before interest and tax of $8.4 million last year on revenue of $53.4 million.