One of the city’s most iconic companies was today bought as part of a major US Private Equity deal.
Steelite, the parent company of Bondholder Royal Crown Derby, has been bought by Pittsburgh-based PNC Riverarch and Chief Executive Kevin Oakes has bought Royal Crown Derby, becoming its sole owner and Chairman.
Commenting on the deal Kevin says: "I’m delighted to have acquired one of the UK’s most iconic brands and ceramic manufacturers, Royal Crown Derby. I passionately believe that the business can succeed on the global stage and I plan to invest my efforts in ensuring our vision is realised.”
The company which employs 200 people traces its roots to 1750 and its Visitor Centre is one of Derby’s main tourist attractions, attracting thousands from across the world every year.
John Forkin Managing Director of Marketing Derby welcomed the deal by saying: "Royal Crown Derby design quality products which are known across the world and new owner, Kevin Oakes, brings decades of international experience to the role. It’s important that he knows he has the backing of the city and, as a Marketing Derby Bondholder company, we will be reaching out to offer our support"