The wheelings and dealings behind lucrative furnishing and home retailers often involve shareholders and businesses with large stakes in the businesses. Recent moves by shareholders in the industry underscore the dynamic nature of ownership within furnishing and home retailers and manufacturers.
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Tapi Carpets & Floors recently announced that despite stepping down earlier this year, Martin Harris, co-founder of Tapi Carpets & Floors, remains the second-largest shareholder with a 12.1% stake in the company. His shareholding was only slightly reduced after transferring tens of thousands of shares before his departure from the board in the summer.
Other significant shareholders include Dunelm's Will Adderley, and Lord Kirkham, who holds an 8.1% stake, and Will Adderley, whose investment firm WA Capital owns 6%. The largest shareholder is Barker Partnership, a U.S. investment fund, controlling 22.2% of shares. The overall ownership structure has become more concentrated due to share buybacks and cancellations.
Dunelm recently announced that Sir Will Adderley, deputy chairman of Dunelm, had sold £114 million worth of shares in the furniture and homeware retailer while maintaining his position as the largest shareholder. His investment firm, WA Capital, sold 10 million shares, accounting for approximately 4.9% of Dunelm's total issued share capital, at a price of 1,140 pence per share—a 7.6% discount on the market price.
Despite the sale, Adderley, the son of Dunelm's founder Bill Adderley, still holds a substantial 32.8% stake in the company, which was valued at £773.2 million as Dunelm shares closed at 1,165 pence. The transaction took place in late September, coinciding with CEO Nick Wilkinson's purchase of £115,782 in shares to fulfill his obligation to invest two-thirds of his cash bonus. Following this purchase, Wilkinson's stake in Dunelm now amounts to approximately 0.2% of the total shares, valued at £5.1 million.
Source: www.thefurnishingreport.com