East Anglian builders merchant group Kent Blaxill has sold its subsidiary company, Global Stone (Colchester) Ltd to its key supplier, Shree Agencies of India.
Global Stone was established as a wholesaler of natural stone paving 16 years ago to supply the domestic paving market. From the outset, Global Stone has had a very strong relationship with Shree, which has underpinned the company’s growth. It is an innovative brand, known for its market-leading products, gaining as much as a 10% market share by value in the domestic stone paving sector.
Julian Wood, managing director, has been with the company from its inception. Clare Morgan, commercial director, and Sara Cullis, marketing director, lead a strong team who are all moving with the sale.
Simon Blaxill, managing director of Kent Blaxill, said ‘There is a very strong logic in the sale to Shree Agencies for both parties. Kent Blaxill is very proud to have developed a niche and profitable business with a very good reputation in the stone domestic market, but choices have to be made and Kent Blaxill has ambitious plans to further develop its decorative paint and builders’ merchant businesses across the East of England. All staff are transferring and the expectation is that staff numbers will increase further with the expected investment. Global Stone increased sales staff by 25% in 2018 (from 4 to 5) to back up the growth intentions so exciting times ahead for Global Stone and we wish them continued success.”
The purchase by Shree Agencies, a leading quality natural stone supplier, brings with it increased investment to take the business to another level.
Harsh Kalani, managing director of Shree, said: “We are excited about working with the Global Stone team with closer synergies and new opportunities. Our relationship with Global Stone has given us a great insight in the UK and a closer association will enable us to combine our company expertise to bring yet more ideas and products to market.”