Historic ceramics brand Wade has been bought out of administration.
The purchase by consumer goods firm RKW will create up to 100 new jobs at its head office in Fenton, Stoke-on-Trent, and 750,000 sq ft distribution centre in Stone.
Wade Ceramics, famous for its collectible Whimsies and the iconic Gluggle Jugs, went into administration in December last year, with the loss of around 140 jobs.
It was said to have been hit by the loss of a major customer as well as economic challenges including rising energy costs.
The acquisition by RKW, the trading division of family-owned Sutton Venture Group (SVG), has come following “strong competition” during the sale process.
SVG Chairman Rob Sutton said: “I am delighted to welcome Wade to RKW’s stable of top consumer brands.
“Wade is over 200 years old and steeped in heritage. It is recognised in both the UK and America for its high-quality ceramic products.
“There was strong competition during the sale process, particularly from the US and I am delighted that we have been able to acquire Wade and keep it in Stoke-on-Trent, the home where it was founded.”
He added: “RKW has a talented team with a proven track record of brand building and Wade complements our existing portfolio of houseware brands. The brand is perfectly aligned to strengthen our ambitious international growth plans.”
Wade Ceramics was founded in 1810 and had a state-of-the-art facility in Etruria, in Stoke-on-Trent.
RKW designs, manufactures and distributes small domestic appliances and housewares for leading brands including Black and Decker, Lavazza and Morphy Richards, selling to retailers such as Currys, Tesco and Amazon.
Philip Jordan, business restructuring Associate Director at administrators BDO, said: “Whilst it’s sad to see the demise of companies like Wade, achieving a deal which will rescue the historical brand and create jobs across Staffordshire is great news.
“There was a lot of interest in Wade and after careful consideration, it was decided that the merits of SVG’s offer provided the best outcome for the interests of Wade’s creditors.”
