British furniture manufacturer Very Good & Proper has acquired furniture brand Isokon Plus in a bid to develop both companies whilst retaining their "distinctive identities".
The acquisition will see both firms keep their brand names, while sharing resources in sales, marketing and distribution.
Plywood furniture specialists Isokon Plus initially suggested the move eighteen months ago, and it was finalised on 17 July. Each brand will "retain its own distinctive identity and design DNA" they said in a statement.
Isokon Plus' Long chair was designed by Marcel Breuer
Ed Carpenter of Very Good & Proper (VG&P), who has taken on the role of creative director and CEO of both companies, said that the mutual decision is based on "a shared vision for the future" rather than about financial gain. Co-founder of VG&P, André Klauser, has taken on the position of design director across both companies. Mark Smith of Isokon Plus will become operations director, whilst its founder, Chris McCourt, will remain involved with both companies as a design consultant.
Move not "motivated by money"
"We were massively flattered and very excited," said Carpenter, adding that the move "isn't motivated by money".
He stated that the decision didn't have anything to do with the challenges of Brexit, with many of both brands' raw materials coming from Europe.
"The timing this summer with Brexit looming, you could argue it's ...