Glasswells Ltd has acquired Alstons from TCM Living. The financial terms of the transaction were not disclosed.
Paul Glasswell, Managing Director of Glasswells, stated that the company is proud to welcome Alstons, noting its reputation for manufacturing quality sofas and chairs and its commitment to service. He added that Glasswells, having worked with Alstons as a retail partner, understands the value of its brand, British heritage, and workforce. Glasswell said the investment represents a long-term commitment to supporting British manufacturing and ensuring Alstons' continued growth.
Andy Kennaugh, CEO at Alstons, commented that Glasswells provides a strong foundation for Alstons' success as TCM Living exits the UK market. He highlighted Glasswells' 80-year family history in retail, which offers an understanding of consumer needs and support for the independent retail network Alstons serves. Kennaugh described the move as positive, strengthening the business under British ownership.
The transition is expected to be seamless for stakeholders, with existing orders, retailer contracts, and product warranties remaining active, and daily operations continuing without disruption.