InsightsNews - Corporate, Banking and Finance - POSTED: April 8 2021
Brachers advises on the sale of Flooring Megastore Ltd and Contemporary Trade Flooring Ltd to Carpetright
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Brachers has acted on behalf of Flooring Megastore Ltd and Contemporary Trade Flooring Ltd on the sale of both businesses to the UK’s leading home flooring retailer, Carpetright.
Flooring Megastore Ltd and Contemporary Trade Flooring Ltd are Kent-based businesses owned by the Canning family. The companies offer a wide range of carpet and flooring, with Flooring Megastore Ltd a predominantly online retailer while Contemporary Flooring Ltd has a focus on wholesale to the trade flooring sector. The businesses are supported by a purpose built design studio and distribution centre in Aylesford, Kent.
The deal was of strategic importance to Carpetright as it has provided them with an online presence and broadened their retail offering, enabling them to reach to a wider customer base. Under Carpetright’s ownership the businesses can grow and develop, giving customers more and providing the transferring employees with all of the opportunities that come from working for a nationwide retailer.
The Canning family continue to be involved with the businesses with Mark Canning being appointed as Head of Digital for Flooring Megastore.
The deal was led by Brachers Corporate Partner Claire Williams, with support from Corporate solicitor Raul Hernandez, Commercial Property Partner Emma Andersen, Employment Partner Antonio Fletcher and Employment Senior Associate Louise Brenlund. Womble Bond Dickinson acted for Carpetright.
Alongside the corporate aspect of the deal, the team were also required to advise on the TUPE transfer of staff and the arrangements for the premises. Additionally, challenges were brought about by the pandemic and lockdown restrictions, which meant the deal was completed entirely remotely.
Claire Williams, Corporate Partner, said: “We’re really pleased to have advised Mark and Patrizia on the sale of their family businesses. There are specific intricacies to consider when bringing together a large corporate and a family business and we are delighted that we were able to secure a successful sale for them.”
Mark Canning, Director of Flooring Megastore Ltd and Contemporary Trade Flooring Ltd, said: “My wife and I have never sold a business before and are complete novices in this world. We are grateful to have worked so closely with Claire.
“We think her personal and professional qualities make her a star player. She is one of the first names you’d put on your team sheet and we commend her commitment and attitude.”
This content is correct at time of publication
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