Nambé sold for $12M
Key management team to continue in current role
London-based homegoods maker, distributor adds NM icon
One of New Mexico’s most iconic companies has been purchased for $12 million by a British home goods manufacturer and distributor.
Nambé, a Santa Fe-based manufacturer famous for its aluminium alloy bowls, has been acquired by the Portmeirion Group PLC, the parent company of several prominent British homeware and fragrance brands.
In a statement, Portmeirion CEO Lawrence Bryan said the company has collaborated with Nambé for nearly a year, and described the New Mexico company as “historic.” The deal closed Tuesday.
“Nambé is synonymous with marketleading design in home wares and we are hugely excited to take the brand on the next part of its journey,” Bryan said.
Nambé was founded in northern New Mexico in 1951 and currently operates eight stores, seven of which are in New Mexico, according to the company website. The company operates two stores in Albuquerque and maintains a headquarters on West De Vargas Street in Santa Fe.
In addition to the bowls, the company produces dinnerware, home decor and jewelry. Nambé made its products in Santa Fe for years, but shifted production to facilities in Asia several years ago, according to Journal archives. A news release from Portmeirion notes that Nambé brought in $18 million last year.
For Portmeirion, the acquisition represents an opportunity to expand its footprint in the United States, while adding new types of kitchenware to its portfolio, according to the release. The company, based in Stoke-on-Trent in Central England, was founded in 1960 and currently owns five prominent British home goods companies: Portmeirion, Spode, Wax Lyrical, Royal Worcester and Pimpernel, which make products ranging from flatware to candles.
The release notes that Portmeirion intends to use its existing distribution channels in the U.S. alongside Nambé’s knowledge of the market to help the company grow. Nambé’s key management team will continue in their current roles, according to the release.
“We are looking forward to working with the Nambé team on growing the business,” Bryan said.