Aga Rangemaster Group

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AGA Rangemaster Limited
TypePrivate
Founded1939
Headquarters,
UK
Number of employees
2,500
ParentMiddleby Corporation

AGA Rangemaster Group Limited is a British manufacturer of range cookers, kitchen appliances, and interior furnishings, which was acquired by Middleby Corporation in September 2015 after it received a takeover approach from Whirlpool. The Group employs just over 2,500 people worldwide.[1] [2]

Aga Rangemaster (formerly Aga Foodservice Group, LSEAGA) is the manufacturer of the eponymous cast iron cooker and oven (the AGA Cooker) headquartered in Leamington Spa, Warwickshire, England.[3] The North American subsidiary of AGA Rangemaster is AGA Marvel which distributes AGA Rangemaster cooking products under the AGA brand name as well as being the manufacturer of Marvel full sized refrigeration and undercounter refrigeration products such as wine cellars, beverage centers, refrigerated drawers, etc.

In September 2015, Aga Rangemaster was acquired by the American company Middleby Corporation for £129 million.[4]

Products and brands[edit]

AGA Rangemaster Group Limited, owns a number of brands including La Cornue, Rangemaster, Divertimenti, Fired Earth, AGA, and Marvel. It manufactures Rayburn and Rangemaster stoves, and various other kitchen equipment, cookware and kitchen furnishings.

History[edit]

Glynwed, later Glynwed International, was formed in 1939 through the merger of "Glynn Brothers, Builders and Plumbers Merchants of Birmingham" (engineering and plumbing materials) with sister company "The Wednesbury Tube Company" (solid drawn copper tubes). During WW2 it made a range of war equipment including brass bars for shell rings and ammunition driving bands. In the aftermath of the war, the company reverted to copper tubes and benefited from the post-WW2 housing boom.[5]

Having traded as a public company since 1941, Glynwed expanded rapidly adding additional companies to the group, including in 1969 Allied Ironfounders, the manufacturers of AGA cookers, an integrated oil burning oven system.[6] However, Glynwed was acquired by Mueller Industries Inc. (USA) in 1997, and subsequently underwent major reorganisation in 2001, with the pipes business being sold to Etex Group for £786 million, and the remainder being renamed AGA Foodservice.[7] In 2003 Rangemaster was added, and subsequently the firm was renamed Aga Rangemaster in 2008. [8] Middleby Corporation acquired the group in 2015 for £129 million, closing the Coalbrookdale manufacturing plant in 2017.[9][10][11]

  • 1998 - Focus on just 2 core growth activities – PipeSystems & Consumer & Foodservice
  • 1999 - Major acquisitions in the US and North America (IPEX, Victory Refrigeration)
  • 2000 - Group is split into Pipe Systems and Consumer and Foodservice operations.
  • 2001 - Pipe Systems operations sold to Belgian Group, Etex, for £800m. Capital return made. AGA Foodservice Group becomes the new name for the Group.
  • 2002 - Focus on creating a major international consumer brand-led operation. Acquisition of a stake in Grange in France provides European foothold.
  • 2003 - AGA and Rangemaster post record performances. Acquisition of Northland - Marvel in the US.
  • 2005 - Acquisitions of Waterford Stanley. Divertimenti and Heartland Appliances strengthens consumer offering.
  • 2007 - Foodservice operations sold as Group concentrates on its strong portfolio of consumer brands. Capital return made bringing total return since 2001 to £600m.
  • 2008 - AGA Rangemaster is created from the remaining consumer businesses.
  • 2009 - Acquisition of Mercury and Thermastone cooker brands from Lincat Group plc for £0.4m in cash. US operations integrated under the AGA Marvel banner.
  • 2011 - Redfyre Cookers and Don Heating Products businesses acquired from Gazco Ltd for £0.8m in cash.
  • 2012 - Entered into a bilateral agreement with the Chinese gas burner appliance group Vatti[12]
  • 2015 - Acquired by the American company Middleby Corporation for £129m million[4]
  • 2017 - Closed the Coalbrookdale Foundry[13]

AGA and Rangemaster lead the portfolio of consumer brands which include Divertimenti, Falcon, Mercury, Fired Earth, Grange, Heartland, La Cornue, Leisure Sinks, Redfyre, Marvel, Rayburn and Stanley.[1][2]

References[edit]

  1. ^ a b "AGA Rangemaster Group plc". Agarangemaster.com. Retrieved 15 July 2015.
  2. ^ a b "AGA Rangemaster Group PLC, AGA:LSE profile". Financial Times. 28 August 2014. Retrieved 15 July 2015.
  3. ^ "AGA.L Profile | AGA RANGEMASTER Stock". Yahoo! UK & Ireland Finance. 31 December 2014. Retrieved 15 July 2015.
  4. ^ a b Farell, Sean (15 July 2015). "Aga Rangemaster sold to US company Middleby in £129m deal". The Guardian. Retrieved 15 July 2015.
  5. ^ Dictionary of Business Biography, Vol 5, edited by David J Jeremy
  6. ^ https://www.gracesguide.co.uk/AGA_Cookers
  7. ^ https://www.gracesguide.co.uk/AGA_Foodservice
  8. ^ https://www.wednesburytube.com/History-of-the-company.html
  9. ^ https://www.shropshirestar.com/business/shropshire-business/2015/07/16/new-us-owners-insist-aga-is-here-to-stay-after-129-million-deal/
  10. ^ https://www.gracesguide.co.uk/Coalbrookdale_Co
  11. ^ https://www.gracesguide.co.uk/Glynwed
  12. ^ "Aga's range extends to China". Telegraph. Retrieved 15 July 2015.
  13. ^ "Aga foundry to shut by end of month". BBC News. 21 November 2017. Retrieved 28 November 2017.

External links[edit]