Aga Foodservices Group has acquired interior decorating company Fired Earth for £29.5m (US$41m)
The purchase, which is the first major move to be made by Aga since it demerged from the engineering group Glynwed earlier this year, has been praised by analysts for marking out a strategic business path.
It adopted the Aga name in a bid to concentrate strongly with the kitchen appliances area of its business, which includes the famous Aga cookers.
Aga, which holds the purse strings to a cash pile of £100m (US$140.6m), is expected to make further acquisitions and to expand its foodservice division. CEO William McGrath also reiterated his commitment to development of the group’s B2B foodservice website.