Orkla’s acquisition of Harris is completed
Published: 02 September, 2016
Orkla’s purchase of L.G. Harris & Co. (‘Harris’) has now been completed.
Harris is one of the leading suppliers of DIY painting tools in the UK, and with this acquisition Orkla House Care, it has doubled the size of its operations.
The agreement to purchase Harris was announced in May this year. The assessment of the agreement under competition law was concluded at the end of July, and the transaction was completed on 31 August, 2016.
Johs Hoeg, chief executive officer of Orkla House Care, said: “We are very pleased to have successfully concluded our acquisition of Harris. With the purchase of Harris, Orkla House Care is significantly strengthening its presence in the UK and expanding its portfolio in the DIY market.”
The consolidated business in the UK will be headed up by Stuart Hobbs, sales and marketing director at Harris. Gary Jordan, the current managing director, has decided to retire from the industry. Steve Edwards will continue in his role as managing director of Hamilton through the planned integration phase and will then take up the position of business development director for Orkla House Care.
Mr Hobbs said: “I am excited to be leading this phase of the company’s development in the UK and to be part of a strong international group. The combination of Harris and Hamilton in the UK presents a very powerful proposition. We will continue to operate distinct sales and marketing strategies for the two brands and the channels in which they operate, while looking to consolidate those functional areas where it makes sense to do so.”
As a result of the acquisition, a proposal to close the UK operations at Hamilton Acorn’s head office in Attleborough, Norfolk, and to consolidate the business into one site in Stoke Prior, Bromsgrove, has been announced. Staff will be consulted over this proposed change during the coming weeks.