Furniture chain Betta Living seeks buyer
Mark Leftly is political correspondent at The Independent on Sunday and associate business editor across the Independent titles. He writes a weekly column, Parliamentary Business, published on a Wednesday, that covers politics and the City. He is a multi-award winning reporter and was named Press Gazette's business magazine journalist of the year prior to joining The Independent on Sunday.
Sunday 07 April 2013
The father-and-son team behind Betta Living will put the fitted bathroom and kitchen chain up for sale tomorrow.
Chairman Noel Dean and son James are looking for a private equity investor or a rival to take either a stake in the 47-year-old business or buy it outright.
An industry source said that Betta Living, which has 29 stores but will soon be selling through a major high-street name, should fetch well over £25m due to its recent growth spurt and upbeat prospects.
Brian Higgins, a partner at Betta Living's adviser, Rickitt Mitchell, said: "Betta Living is about to double its footprint, which is a very good base for a trade or private equity investor."
The news emerges as Dean House, which owns the Betta Living brand, announced record turnover and profit figures today. Pre-tax profit was up 44 per cent in 2012 to £1.5m off a turnover of nearly £30m.
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