Affordable flooring supplier, Posh Flooring has agreed a merger with Anbo International Ltd, a Chinese flooring manufacturer, to consolidate assets and accelerate global growth.
The first deal of its kind, the merger sees Posh Flooring and Anbo become a vertically integrated business, encompassing manufacturing, distribution and retail into one body, and allowing customers to buy direct in order to get the best prices.
Having recently moved onto the high street with a brand new showroom in Leeds, the merger provides the flooring supplier with a platform for further growth, and will help the company create new jobs in Leeds, and support the expansion of Posh Flooring into Dubai and the UAE.
Originally launched by Leeds-based entrepreneur Dominic Nowell-Barnes in 2011, Posh Flooring currently turns over £5 million annually. Its merge partner Anbo, which was set up by Chinese entrepreneur Guren Bobby Zhou, has a global turnover of £48 million across the UK, Europe, China and Australia.
The consolidation of both companies’ assets, including 21 retail stores and a highly successful ecommerce offering, is the first element of the businesses’ growth acceleration plans designed to increase the businesses global footprint throughout the next two years.
The two companies have had a professional relationship for the past nine years, and now, following the merger, plan to become the biggest wood and laminate retailer in the United Kingdom within the next two years.
Dominic Nowell-Barnes, Managing Director at Posh Flooring said: “I am extremely excited to be working alongside Bobby, the MD of Anbo International, and his team. Having both worked extremely hard from the beginning and followed each other’s progression from day one. It’s great that we can now work together with the aim of becoming the UK’s largest wood and laminate retailer.”
To find out more about Posh Flooring, visit https://www.poshflooring.co.uk/.
To find out more about Anbo International, visit http://www.anbointernational.com