Steelite Chief Acquires Royal Crown Derby

STOKE-ON-TRENT, England—Steelite chief Kevin Oakes has acquired 100 percent of the share capital of English bone china company Royal Crown Derby for an undisclosed sum, stepping down from his role as chairman of Steelite to run Royal Crown Derby. As part of the overall exit deal from Steelite, Oakes is personally investing $1.33 million into Royal Crown Derby to acquire the company, secure its future and invest in its long-term growth, Royal Crown Derby said.

Steelite International, which is primarily a hospitality ceramics maker, acquired Royal Crown Derby four years ago. Oakes has been with Steelite for 39 years, the last 10 as chief executive.

“Royal Crown Derby is one of the U.K.’s most iconic brands, and I’ve always passionately believed that the business can succeed on the global stage,” Oakes said in a statement. “I led Steelite International’s acquisition of Royal Crown Derby in 2012 and, following today’s announcement, I plan to invest heavily in the business to ensure our long-term vision is realized.

“Market conditions remain extremely challenging and changes will be implemented across all areas of the business to ensure it is appropriately structured and resourced,” Oakes continued. “We are committed to long-term manufacturing in Derby, and I’m confident that with targeted investments in our team, our factory and product innovation, the outlook for the business is both positive and exciting.”

Steelite International’s sales have grown 122 percent in 10 years, to $133 million under current currency conversion from the British pound, and it achieved “record profitability” in 2015, according to the company. “Steelite International has been my life’s work, and I am delighted to hand the business over to the existing management team,” Oakes said. “I now look forward to concentrating my efforts on ensuring Royal Crown Derby goes from strength to strength.”

Christopher Oakes, sales and marketing director for Royal Crown Derby and Kevin Oakes’ son, said, “Over recent years we have successfully diversified the business into the luxury hospitality market and we are now proud suppliers to leading establishments such as The Dorchester, Warwick Castle and Waldorf Astoria. Whilst this strategy is paying dividends, the markets in which we operate are constantly changing and, therefore, we need to be proactive to forge ahead of our competitors.”

Royal Crown Derby produces all of its bone china in England and employs more than 130 people at its Osmaston Works factory in Derby, England. According to Christopher Oakes, Royal Crown Derby’s skilled workforce will enable it to introduce technically challenging products, with new ones in the works. “I firmly believe that Kevin’s vast experience in the industry, combined with targeted investment, will accelerate our growth momentum, and we look forward to the challenges and successes that lie ahead of us,” he said.

Royal Crown Derby is distributed in the U.S. by DeVine Corporation. CEO Tim DeVine said he thought Kevin Oakes will have a positive and immediate impact on the business. “He was a visionary in the hotel/restaurant business and built Steelite into a powerhouse in the commercial tableware business. His skill set will be welcomed at Royal Crown Derby,” DeVine said.