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Aga Rangemaster Group

 

Aga Rangemaster Group

AGA Rangemaster Group plc is a British manufacturer of kitchen appliances and interiors furnishings, a subsidiary of the American Middleby Corporation since July 2015. The Group employs just over 2,500 people worldwide.[1][2]

Aga Rangemaster (formerly Aga Foodservice Group, LSE: AGA) is the manufacturer of the eponymous cast iron cooker and oven (the AGA Cooker) headquartered in Leamington Spa, Warwickshire, England.[3] There are additional sites in Telford, Shropshire,[4] and is a constituent of the FTSE SmallCap Index. The North American subsidiary of AGA Rangemaster is AGA Marvel which distributes AGA Rangemaster cooking products under the AGA brand name as well as being the manufacturer of Marvel full sized refrigeration and undercounter refrigeration products such as wine cellars, beverage centers, refrigerated drawers, etc.

It also manufactures Rayburn and Rangemaster stoves, various other high quality kitchen equipment, cookware and kitchen furnishings. Other divisions commercial catering equipment: for example 70% of French bakeries own equipment manufactured by Aga.

In July 2015, Aga Rangemaster was acquired by the American company Middleby Corporation for £129m million.[5]

Corporate timeline

  • 1939 - Glynwed is formed : metals and engineering
  • 1998 - Focus on just 2 core growth activities – PipeSystems & Consumer & Foodservice
  • 1999 - Major acquisitions in the US and North America(IPEX, Victory Refrigeration
  • 2000 - Group is split into Pipe Systems and Consumer and Foodservice operations.
  • 2001 - Pipe Systems operations sold to Belgian Group, Etex, for £800m. Capital return made. AGA Foodservice Group becomes the new name for the Group.
  • 2002 - Focus on creating a major international consumer brand-led operation. Acquisition of a stake in Grange in France provides European foothold.
  • 2003 - AGA and Rangemaster post record performances. Acquisition of Northland - Marvel in the US.
  • 2005 - Acquisitions of Waterford Stanley. Divertimenti and Heartland Appliances strengthens consumer offering.
  • 2007 - Foodservice operations sold as Group concentrates on its strong portfolio of consumer brands. Capital return made bringing total return since 2001 to £600m.
  • 2008 - AGA Rangemaster is created from the remaining consumer businesses.
  • 2009 - Acquisition of Mercury and Thermastone cooker brands from Lincat Group plc for £0.4m in cash. US operations integrated under the AGA Marvel banner.
  • 2011 - Redfyre Cookers and Don Heating Products businesses acquired from Gazco Ltd for £0.8m in cash.
  • 2012 - entered into a bilateral agreement with the Chinese gas burner appliance group "Vatti"[6]
  • 2015 - acquired by the American company Middleby Corporation for £129m million[5]

AGA and Rangemaster lead the portfolio of consumer brands which include Divertimenti, Falcon, Mercury, Fired Earth, Grange, Heartland, La Cornue, Leisure Sinks, Redfyre, Marvel, Rayburn and Stanley.[7][2][7]

References

  1. ^ "AGA Rangemaster Group plc - AGA Rangemaster Group plc". Agarangemaster.com. Retrieved 2015-07-15. 
  2. ^ a b "AGA Rangemaster Group PLC, AGA:LSE profile - FT.com". Markets.ft.com. 2014-08-28. Retrieved 2015-07-15. 
  3. ^ "AGA.L Profile | AGA RANGEMASTER Stock - Yahoo! UK & Ireland Finance". Uk.finance.yahoo.com. 2014-12-31. Retrieved 2015-07-15. 
  4. ^ [2]
  5. ^ a b Farell, Sean (15 July 2015). "Aga Rangemaster sold to US company Middleby in £129m deal". The Guardian. Retrieved 15 July 2015. 
  6. ^ "Aga’s range extends to China". Telegraph. Retrieved 2015-07-15. 
  7. ^ a b "AGA Rangemaster Group plc - AGA Rangemaster Group plc". Agarangemaster.com. Retrieved 2015-07-15. 

External links

  • Official site
  • Rangemaster UK
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