Portmeirion buys Spode for bargain £3.2 million

Robert Lea
24 Apr 2009

Royal Worcester and Spode, two of the biggest names in the fine china industry, have been sold for a knockdown price of just £3.2 million.

They have been bought by Stoke-on-Trent rival Portmeirion, having gone bust earlier this year in a shakedown of Britain's fine china market which also saw the collapse of Waterford Wedgwood. Portmeirion has paid the cash to PricewaterhouseCoopers, Royal Worcester Spode's administrators.

Portmeirion has bought the brand names, intellectual property and inventory of Royal Worcester and Spode which it expects to run alongside its own ranges headed by its Botanic Garden line.

However, the deal does not include Royal Worcester Spode's kitchenware range which is run under the brand of Jamie Oliver and remains with the administrators. Portmeirion already has its own kitchenware range under cookery writer Sophie Conran's brand.

Portmeirion which last year made profits of £1 million on sales of £32 million said it expects Royal Worcester and Spode — which merged in 2006 — to bring in annualised sales of £12 million.

It has been announced that no Royal Worcester Spode employees will be employed by Portmeirion. A spokesman for Portmeirion said the company would continue to manufacture in Stoke as well as source goods from China.