Kesslers London and Proportion London have undergone a management buyout from PFI Group
Two businesses with a long history in the retail design and furniture industries have announced what they deem a ‘new era’ following a management buyout from PFI Group.
Kesslers London, which started trading in January 2021 and is built on the legacy of the Kesslers family brand, recently relocated its manufacturing site to the previous home of its Proportion London brand.
Both Kesslers and Proportion now operate from East London, employing 95 staff over two locations offering unique retail displays and merchandising/visual media solutions.
This year many PFI Group subsidiaries entered administration and faced turmoil as the Group has come under fire for unfair dismissals and mishandling of businesses and employees.
Kesslers and Proportion have strategically navigated the situation to result in a management-led acquisition from PFI Group which they say reaffirms the companies’ faith in their teams and stakeholders.
Daniel Astarita, managing director at Kesslers London, says: "We are thrilled to announce the acquisition of Kesslers London by our management team. This development represents a pivotal moment for us as we embark on a dynamic journey of growth and innovation.”
Astarita adds: “I would like to personally thank our customers, suppliers, and staff for allowing us to realise this opportunity […] We have some truly exciting announcements planned for 2024 and we can't wait to share them with our valued customers and partners."
The move is seen as a way to empower the company to build on its success over the past two years and has been noted as a chance to reflect on the brands’ commitments to strong relationships with customers, new opportunities, and a new phase in the companies’ histories.
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