Plymouth based CMO Group which operated a number of online brands for DIY as well as professional tradespeople has been acquired by Lords Builders Merchants (LBM). Included in the deal is the trade and assets of CMO Group, spanning construction materials, plumbing and heating trading operations, except for its tiles brand which has been sold to another business.
CMO Group, which had been listed on AIM had experienced a strong downturn in its business in an uncertain market and had reduced its workforce accordingly whilst agreeing further loans from its bank.
Dean Murray, CEO of CMO said: “This marks a new and exciting chapter for CMO. We have built a strong, digitally led business over the past fifteen years, and in Lords we have found a partner that not only understands our model but shares our ambition. I am incredibly proud of what the CMO team has achieved and excited about what is next.”
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