Arkote Ltd is pleased to announce it has reached a definitive agreement to acquire the entire issued share capital of Zanogen (UK) Limited.
The Board of Arkote Ltd believes that this strategic acquisition further strengthens the market reach of its wholly owned company, Hardy UK Ltd, and will give existing users of the Zanogen brand increased security in the supply chain. Arkote Board members will work with key Zanogen personnel to ensure a smooth hand-over of the business assets over the coming months.
Peter Oxspring, MD of Arkote Ltd and Hardy UK Ltd stated; “This deal is a really exciting moment for us, combining two strong brand names in the global leather blade producing industry. It is good for customers worldwide, with both the Hardy and Zanogen brands having many loyal client relationships. Zanogen is an excellent fit with Hardy UK, so when the opportunity presented itself, we had little difficulty deciding to proceed. With the backing of our Richmond (VA) USA based parent company, Fi-Tech Inc., a deal was quickly struck with majority Zanogen Shareholders”
“We are immensely proud of building one of the largest leather blade producing companies in the world. This transaction was a logical and natural next step in the companies evolution and consolidation of the market sector and will create a larger and stronger platform serving all stakeholders. In Hardy UK, we have an excellent steward for the Zanogen brand going forward”
Tony Morgan, former MD of Zanogen UK Ltd commented; “After 40+ years in the leather industry I felt it was time to take a step back. I am delighted to announce this deal, as it not only secures the future of Zanogen but also brings together two of the industries leading manufacturers of shaving and fleshing blades. I am very pleased to see that Zanogen blades will continue to be manufactured in the UK and can see a very bright and successful future for the Zanogen and Hardy brands, serving the leather industry together. This is extremely positive news for all our very loyal and valued customers”