River Island duo helps boost profits at Loaf: Clive and Ben Lewis bought majority stake in chic furniture group
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Profits at chic furniture group Loaf shot up 75 percent after a takeover by the family behind River Island.
The company has raised £12.8 million in the year to March, according to accounts filed with Companies House. Sales surged as customers refurbish their homes during the pandemic.
A good sign: Clive and Ben Lewis bought a majority stake in chic furniture group Loaf
Loaf paid a £20 million dividend to the parent group during the year.
Clive and Ben Lewis bought a majority stake in the Jersey-registered company late last year through their investment group Blue Coast Capital.
The deal values Loaf at over £70 million.
Etonian entrepreneur Charlie Marshall founded the company in 2008 with money from the sale of another company after spending an entire Saturday trying to buy a bed.
Marshall, 48, expanded it to sofas and bedroom furniture in 2012, and in 2014 attracted investment from Peter Simon, the founder of Monsoon and Accessorize.
Turnover last year rose 52 percent to £94 million.
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