'Major step forward': Yorkshire's Corporate Trading Supplies buys online retailer ShoeStation Direct in £10m revenue boost
Yorkshire firm Corporate Trade Supplies (CTS) UK has acquired online retailer ShoeStation Direct in a move that will add £10m in revenue to the group.
The acquisition follows a record period of expansion for CTS Group, which is now on course for £70m turnover by the end of the year, and a series of strategic acquisitions across the workwear, packaging and wider supply chain sectors.
CTS employs around 140 people across its Yorkshire sites in Northallerton, Thirsk and Harworth. The company turned over £45 million in its last financial year, is currently running at around £60 million, and is forecast to reach £100 million by 2028.
AJ Swinbank, CEO of CTS Group, said: “The acquisition of ShoeStation Direct is a major step forward and a significant investment in the future of the business. It strengthens our safety division with a powerful combination of product range, well-known brands and a large, loyal customer base.
“Our acquisitions are driven by a clear long-term vision and a defined goal of £100m in revenue for the financial year 2028, and ShoeStation Direct gives us a powerful platform to accelerate that plan.”
Declan Quinn, of ShoeStation Direct, said: "After 20 years building the business, we are looking to take things a little easier and spend more time with our growing family. A business like ours needs a great deal of time and energy, and as with any family business, we have sacrificed a lot to get it to where it is today. It is the right time to leave it in safe hands.
"Having been approached by several businesses, we felt CTS was the right fit. They have the expertise and resources to enhance and grow what is a very well-respected business within the trade, while keeping the legacy going.”
Mr Swinbank added: “We are proud to be taking ShoeStation Direct into its next chapter and building on the strong foundations the family has created. Our focus now is on developing the business, investing in systems and people, and continuing to deliver excellent products, service and availability for customers across the UK.”