A UK flooring distributor has acquired a freehold logistics centre near Plymouth for £1.2m. The deal for the Ivybridge hub takes Likewise Property Group’s logistics space to 15 million cubic feet and its freehold portfolio to £22.3m.
The new unit, which was funded from internal cash, will establish Likewise South West and will allow Valley Wholesale Carpets to develop business with customers in Devon and Cornwall, the company said.
Tony Brewer, chief executive of Likewise Group plc, said: “The investment in Plymouth completes the group’s geographical reach across the UK and further strengthens our balance sheet.
“The momentum developed in the second half of 2024 has continued in the early part of 2025, providing the group with confidence in an exciting future and further progress towards our medium term objectives.”
Following a successful 2024, Likewise said it had made a “positive start” to 2025, with total sales revenue increasing by 8.4% in January and Likewise-branded businesses increasing by 13.6%.
The group has a number of product launches planned in the next six months as well as sale and display stand activities in a bid to increase market presence in independent flooring retailers and contractors.
“The logistics infrastructure combined with the substantial sales and marketing initiatives will allow the Likewise to take full advantage of the many opportunities presented in the UK flooring industry,” the company added.
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