The management of The Dalya Group have completed the first stage of a management buyout and plan to grow domestic and export sales at the kidswear supplier.
Hitting targets will help the pair to generate the cash needed to buy out majority shareholders the Glaskie and Beenstock families, who set up the group 36 years ago. It will also enable them to avoid hefty bank loans.
McAllister said: “We approached the families with the offer because we believe Dalya has great potential and we can grow it at an even quicker pace. We know the market well and have invested a substantial amount of our own funds.”
The Dalya Group supplies value retailers including Ethel Austin and the supermarkets, as well as department stores such as John Lewis.
It also supplies own-label babywear and kidswear to the UK, France, Iceland, the US and Russia.
“We want to expand further into other European markets and grow our product offer,” McAllister added.
Managing director Jean-Philippe Gaskie has stepped down to join marketing communications agency Peppermint PR. Gaskie said the new management would also continue to expand into the UK market and target multiple retailers.