Milbank LLP advised The Cranemere Group Limited.
The Cranemere Group, a holding company that partners with businesses for the long term, has formed The Engineered Stone Group to establish a leader in engineered stone bathroom products. This Group has acquired Acquabella, a leading European branded supplier of engineered stone shower trays and wall panels. Acquabella will operate under The Engineered Stone Group holding structure alongside Marmite, a leading producer of washbasins, shower trays and bathtubs made of engineered stone (or mineral composite), which The Cranemere Group previously acquired in 2016. Financial terms of the transaction were not disclosed.
By bringing together Acquabella’s focus on high quality products and service with Marmite’s design expertise and manufacturing capabilities, The Engineered Stone Group will be well positioned to better meet customer needs with greater resources, a broader product offering and financial strength.
Acquabella and Marmite will continue to operate independently, while benefiting from the advantages the shared platform will provide. Brian McCluskie will continue as the Chief Executive Officer of both The Engineered Stone Group and Marmite. Acquabella Chief Executive Officer Juan José Benavent and the management teams of Acquabella and Marmite will remain in their roles.
The Milbank team was led by head of the Global Capital Markets team in London partner Tim Peterson (Picture), Corporate special counsel Merih Altay and associates Anna Bryant, Andrew Bechtel and Danielle Brown.
Law Firms: Milbank;
Clients: Cranemere Group Ltd;