Posted 30th Nov 2018

Canburg acquired by US real estate developer

30th November 2018 - 16:14pm
money matters, canburg, acquisition administration, kbb, kbbdaily

Luxury furniture group Canburg Limited – owner of Smallbone of Devizes, Mark Wilkinson Furniture, and Brookmans – has been acquired by Gary Barnett, the founder and president of New York-based real estate development firm Extell Development Company, through the holding company Sapphire 700 Limited.

The acquisition by Barnett follows reports earlier this month that the company was preparing to file for administration, and has secured the positions of the group’s 260 employees as well as allowing for continued production of the brands.

Canburg’s existing management team – led by executive chairman Ian Gray, who was appointed in September – will be “actively working with Sapphire to drive forward the future success of the company, which remains a going concern”.

“We would like to thank our customers, suppliers and staff for their recent support and are focused on working with our new American partners as we continue production to fulfil the order book,” said Gray.

Barnett added: “Having deeply admired the company for many years, I was so keen to take this great opportunity to acquire these unique brands. Over the past 10 years, I have had the pleasure of working with Smallbone of Devizes on many projects such as our One57 development in Manhattan and was struck by its incredible design and making; it is rare to find this level of quality. I am looking forward to working to develop and evolve these luxury British, handmade furniture businesses in the UK and around the world.”


Related articles

LDL Components presents at Granite & Trend Transformations conference

Posted today - 15:17pm |

The company used a ‘cleverly designed’ set to showcase key items from its product range

Masterclass Kitchens appoints marketing duo

Posted today - 15:02pm |

Jessica Green, pictured right, and Becca Vincent, left, have joined as marketing administrator and digital content executive, respectively

Geberit raises £3,750 through Snowdonia Triple challenge

Posted today - 13:23pm |

The group’s board of directors took on a 17km cycle, 7km hike and 4km kayak all in one day

Roundhouse collaborates with cookery school Mimo London

Posted today - 10:32am |

The bespoke kitchen maker designed the Spanish school’s new cooking and dining space


in the spotlight

InSinkErator® Neotank

popular articles

Private equity firm TPG looking to sell VictoriaPlum.com

Wickes names David Wood as its new CEO