Ulster Carpets buys luxury textile maker in England
Ulster Carpets has bought a high-end textile manufacturer in England in a cash deal.
The Craigavon-based company said Roger Oates Design, which is based in Herefordshire and has a showroom in Chelsea, was a "prestigious" name.
The family-run company manufactures fabrics for stair runners and other interior furnishings.
Ulster Carpets would not confirm how much it had paid for the business - but revealed it was funded from cash reserves.
David Acheson, Ulster Carpets' head of strategic operations, said: "Ulster's ethos and future plans very much revolve around quality, design and service excellence and Roger Oates Design fits this perfectly.
"We are delighted to have secured Roger's continued involvement and are excited about the future prospects for the business."
Company boss Nick Coburn said the company had spent £10m on updating its operations in Craigavon.
He added: "Despite the uncertainties of the macro-economics, Ulster Carpets is clearly focused on the many positive opportunities open to the company here and internationally.
"As a Northern Ireland-based company we hope this contributes to a stronger level of confidence for the local economy."
It's one of Northern Ireland's most well-established exporters, with major markets including the Gulf. It was advised on the deal by the Belfast offices of accountancy firm BDO and law firm Pinsent Masons.