Coral acquires assets of Kin Limited
Coral Tools Ltd, a leading supplier of decorating tools and equipment, announced today it has entered into a definitive asset purchase agreement with the administrators of Kin Limited and Wilko Limited, whereby Coral will acquire much of the intellectual property and other assets associated with the Kin business.
"As a subsidiary of Wilko Limited, Kin operated as a successful award-winning design company focussed on consumer-driven innovation distributed online and across more than 800 outlets,” said Matthew Page, Managing Director of Coral. “The brands and product designs are loved by millions for the brilliant design-led approach that focuses on making life easier. Like Coral, Kin was awarded the prestigious iF Design Award and the Good Design Award. We look forward to serving these new customers and designing more world-class solutions to everyday problems”.
Coral will utilise its operating infrastructure and management systems to fully realise the latent potential of the brands and designs.
Funding for the consideration and projected working capital requirements shall be met through Coral's existing reserves.
Existing stockists and those interested in becoming a stockist of Store & Order and/or Clever Pots should contact Coral Tools Ltd on 0800 368 8080.