High street retailer Fonehouse has today (Dec 1) announced it has been acquired by KTM Online for an undisclosed figure.
Fonehouse owner Clive Bayley will remain with Fonehouse Retail in a non-executive role. He retains ownership of accessories and repair brand TechHouse, MVNO IQ Mobile, Fonehouse’s Nottingham-based call centre and its B2B operations.
Employees and retail partners have been informed of the sale, no jobs will be made redundant from the deal. Fonehouse has 21 franchise stores across the UK, several in London and in Stoke, Belfast and Worle to name a few. Also from the sale, KTM Online will have rights to the Metrofone brand.
KTM Online was formed by four joint-owners in May: GreenTech Distribution CEO Richard Crawley (middle) and COO Lucky Anand, former Mobile Phone Direct CEO Ben Branson (right) and online marketing director (left) Simon Weedon.
Branson takes the helm as CEO and Weedon assumes the chief commercial officer role.
Going forward
KTM Online CEO Ben Branson said: “The online market is incredibly competitive, so to partner with one of the most successful distributors out there is an amazing opportunity.
“GreenTech has solid financial foundations, buying power and access to new products and services that can add significant value to the Fonehouse business as we take it forward and look to achieve new growth”.
Bayley added: “This is a positive move that will enable a stronger company going forward. Fonehouse will benefit from industry-leading expertise in online retailing and access to a broader range of products and product offers, as well as access to the financial backing of its new owners.”
“We are confident our transitioning employees, retail and network partners are in safe hands for the future and, from a personal perspective, I wish the business every success for the future under new ownership.”
