£10m West Yorkshire foam product specialist acquires Oxford counterpart out of administration
West Yorkshire based foam product specialist GNG Group has acquired part of The Foam Company out of administration, further boosting GNG’s successful medical and consumer mattress division.
Located in Abingdon near Oxford, The Foam Company has been making foam, memory foam and latex components for use in furniture for over 30 years as well as being a leading manufacturer of mattresses. It was placed into administration on February 28 following the withdrawal of a key mattress brand, Mammoth, that it was making under licence.
On March 10, a deal was completed for GNG Group, an international brand leader and supplier of foam-based products, to acquire the company’s assets and intellectual property.
Headquartered in Wakefield, GNG Group was established in 1987 and primarily serves the medical, consumer, and sports sectors. It has grown into a £10m turnover business, employing more than 90 people.
Darren Potterton, managing director of GNG Group, commented: “It is extremely sad to see the demise of such a long-established successful family business. Unfortunately, after the loss of the licence for its major brand, the business was no longer viable as a going concern. We hope to reach out and try to work with some of The Foam Company team in the future.
“We will be integrating the assets within our operations - The Foam Company’s brands are a good fit with our existing range, and the machinery will be relocated to the West Yorkshire manufacturing facilities of our expanding mattress division, supporting our ambitions to continue to build the business.”
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