Adams & Remers were delighted to advise Steamer Trading on its acquisition of 100% of the shares in Kitchens (Catering Utensils) Ltd.
Kitchens was founded in 1968 when it began trading from a small store in Clifton, before gradually expanding to Bristol (1970) and Bath (1979). Its latest store, located in Cardiff, opened in 1990 and covers over 9,000 square feet of retail space across two floors. The company has most recently begun trading on-line via www.kitchenscookshop.co.uk
The principal shareholders, managing director Nicky Foster and sales director Karen Carnovale, will assist with the handover to Steamer Trading for a couple of months, but will then retire from the business.
The three Kitchens stores will remain under the “Kitchens Cookshop” brand, signifying the importance of that name in the industry. Ben Phillips, managing director of Steaming Trading, commented: “Kitchens is truly one of the most respected names in the industry with a reputation for authority, credibility and service that is second to none. Customers know and love it as Kitchens, so we’re not looking to change the name.”
Douglas Stewart, Partner in the Corporate & Commercial department at Adams & Remers, led a cross-departmental team with assistance from Sophie Macarthy (Property), Rima Mehay (Employment) and Aisha Dickson (IP/IT) in order to bring the transaction to a successful conclusion. Douglas commented: “The acquisition of Kitchens not only feels like a natural fit for Steamer Trading, but it also bolsters Steamer’s presence in the south-west region. Having operated in the same sector, the two parties were well known to each other and the transaction represents the culmination of extensive negotiations to ensure that the “fit” was right for both parties. We wish Steamer well in taking the Kitchens brand forward.”