Iconic Italian design brand Poltrona Frau recently acquired a majority stake in British company KJ Ryan. The move is designed to strengthen the company’s presence in the UK luxury car market. The merger will result in the creation of a European pole specialized in the production of high-end, made-to-measure automotive interiors.
Poltrona Frau, historic Italian design brand and subsidiary of the Haworth Lifestyle Group, acquired a majority stake in British company KJ Ryan on Friday June 14.
The acquisition marks Poltrona Frau’s first international operation in its 112-year history, and aims to strengthen its presence in the UK luxury car market.
Founded in 2007 by Kevin Ryan in Coventry, KJ Ryan, a specialist in automotive upholstery, employs over 150 skilled craftsmen and has established strong relationships with several British luxury car manufacturers. Kevin Ryan will continue to play an important operational role within the new entity.
The merger between KJ Ryan and Poltrona Frau’s Interiors in Motion division, based in Tolentino, Italy, will result in the creation of a European pole specializing in the production of high-end, made-to-measure automotive interiors.
The new entity will generate sales of around 120 million euros and employ around 600 people at three production sites in Tolentino and Montegranaro in Italy, and Coventry in the UK.
A sector in good shape
This operation is in line with Haworth Lifestyle’s growth strategy, which aims to achieve sales of one billion euros over the next few years, both through organic growth of its brands and through acquisitions.
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Featured photo : © Poltrona Frau
