Ultimate deal...firm snaps up its rivals
Reporter: Martyn Torr
Date published: 13 August 2008
A HONG KONG-based rival has been acquired by Oldham business Ultimate Products Ltd.
The UK’s largest product design and supply business, Ultimate, in Victoria Street, Chadderton, has bought Active Asia for an undisclosed sum. Active Asia is expected to add sales of £27 million to Ultimate’s £60 million turnover.
A major supplier to retailers in the United States, including retail pharmacy giant CVS and Nasdaq-listed Bed, Bath and Beyond, Active Asia also supplies retailers in Australia, including Woolworths.
Simon Showman, the chief executive of the Oldham company, said: “Opening our Hong Kong office in 2006 has been vital to our long-term success — and has helped us to cement relationships with key international retailers.
“Our acquisition of Active Asia will give us a major foothold with major US-based companies.”
Chronicle Business understands that negotiations with Active Asia’s management were led by Andy Gossage, the chief operating officer at Ultimate.
Ultimate has not looked back since opening a 17,000 sq ft showroom and offices in Hong Kong in 2006.
Located on the Kowloon waterfront in the Whampoa Garden district, the Hong Kong presence has been central to Ultimate’s strategy of having “on the ground” presence in what is now widely recognised as the epicentre of global retail sourcing.
Ultimate’s management often finds it is easier to take retail buyers from the UK and around the world to Hong Kong, where potential customers can view a fast-growing showcase of more than 2,000 products under one roof. It also allows buyers to visit manufacturing sites in China.
Ultimate’s UK customers include Argos, Debenhams, The John Lewis Partnership, TV shopping channels and Netto and TJ Hughes.
In Europe, customers include the largest supermarket chains and in the US, iconic department store Bloomingdales.
As well as designing and manufacturing products for major retailers, Ultimate also has a number of licensed brands including Anthony Worrall Thompson, Linda Barker and Royal Doulton.
