Topps Tiles has announced the acquisition of CTD Tiles' brands (including CTD Tiles, CTD Trade and CTD Architectural Tiles), 30 stores, selected stock and all related property, after the latter fell into administration on 19th August.
Leicester-based Topps Tiles paid £9million for CTD, which previously supplied tiles to the retail, trade and commercial markets. The 30 branches acquired by Topps generated sales worth £20m in the year to June 2024 and will continue to trade under the CTD brand name. The remaining 56 CTD Tiles stores not being acquired will be disposed of through the administration process.
Rob Parker, Topps Group CEO, said: “The CTD brand and assets are an excellent fit with our existing business and the acquisition creates a new and complementary specialist tile business within the Topps Group.
“CTD operates a different model to our existing Topps Tiles retail stores, with separate trade and retail offers within each unit and a number of market-specific sub-brands which are differentiated from our existing offer.
“The acquisition of 30 high quality stores and selected supporting infrastructure, together with the intellectual property and customer data required to service CTD’s existing commercial customers in the housebuilding and A&D markets, provide us with an opportunity to make material progress towards our Mission 365 sales goal.
“We are excited about the future of CTD within the Topps Group and look forward to welcoming our new colleagues to the business.”
