Harvard International
From Wikipedia, the free encyclopedia
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| Type | Public (LSE: HAR) |
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| Headquarters | Elstree, Hertfordshire, United Kingdom |
| Industry | Consumer electronics |
| Employees | 487, of whom 343 work in the UK as for 2008[1] |
| Website | http://www.harvardplc.com/ |
Harvard International plc (previously known as Alba plc) is a consumer electronics company, based in the United Kingdom.
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[edit] Product range
Argos now owns Alba and Bush hence the reason why the name has changed.
The company originally made only low-cost consumer products under its own brand name, but has both founded and acquired other companies either wholly, in part, or UK manufacturing rights, building it into a large company. Beyond its own name, Goodmans, Breville and Hinari are its best known brands. In addition, until May 2008 Alba was joint owner of the German brand Grundig, along with Turkish electronics giant Beko.
Alba also used to own Pulse Home Products, which it purchased in October 2001.[1] Pulse Home Products was recently purchased from Alba in management buy out.
[edit] History
The name Alba formerly a trademark used on radio and television produced by A.J. Balcombe Ltd. The company was originally formed in 1917 by Alfred Balcombe, becoming known as Alba in 1960, and eventually going into receivership in June 1982. During that time it was a significant contributor to the development of the British radio & TV industry. In 1982 it was bought by Harvard International (formerly Harris Overseas Ltd before 1982). The company was floated on the London Stock Exchange in 1987 as Alba plc, buying Bush Radio in 1988 and adding Goodmans in 1994.
Alba also produces under license featuring the brand of other companies or individuals, including Antony Worrall Thompson, Cable and Wireless, Carl Lewis, JCB, Ministry of Sound, Nicky Clarke and NTL.
The company sold its share of the Grundig brand for £25.5m in December 2007, although it retains the UK distribution rights until 2010.
[edit] Brand name sale to Home Retail Group
Having taken over many other electronics and electrical companies, the Alba and Bush brand names were purchased on 27 November 2008 by Milton Keynes-based Home Retail Group, the owner of Argos, in a £15.25 million deal. Argos sold many of Alba's products and will now exclusively sell this range of products.[citation needed]. Having completed the deal, Alba plc has reverted to its former name Harvard International plc.
[edit] Financial performance
In the year ending 31 March 2005, Harvard made a profit before tax of £20.8 million on turnover of £664.6 million. It has a network of offices and warehouses throughout the UK, including Elstree, Rugby and Sheffield. Its distribution centre is in Cortonwood, near Rotherham.
[edit] References
- ^ "About Breville". Breville UK (corporate website). http://www.breville.co.uk/contactus.html. Retrieved 2007-06-12.
