In a move that’s taken the business to 22 brands and boosted total annual sales to £1.5bn, Neighborly has made Dream Doors part of the family
At Elite Franchise we’ve been given first-hand insight into how Neighborly – formerly the Dwyer Group – goes about achieving scale, having previously interviewed Jeff Meyers, the VP of international at the multi-brand franchisor for home services, who has been instrumental in the UK and European growth. “We are always looking,” said Meyers of the search for new brands worthy of entering the network. “Anything that fits into that box is really where we want to be.”
And seemingly Dream Doors, the kitchen makeover franchise, fits safe and securely into said box, having been acquired by Neighborly in a brand new deal. The takeover brings in 91 Dream Doors showrooms – a mixture of company-owned and franchised sites – and takes Neighborly’s total UK brand ownership to six. Additionally, with the Portsmouth-headquartered franchise now in its grasp, Neighborly can boast 22 brands in its portfolio overall, comprising 3,700 franchisees and overall annual sales of £1.5bn.
Commenting on the announcement, Mike Bidwell, president and CEO of Neighborly, said Dream Doors has been unwavering in its mission of injecting new life into homes for 20 years which makes it a perfect fit for the network. Meanwhile, Meyers added: “The successful acquisition of this value-add new brand builds on our position as a UK leader in the services, helping people to repair, maintain and enhance their homes and businesses.”
Troy Tappenden, founder and chairman of Dream Doors, will leave the company as part of the deal. However, existing franchisees will still experience some familiarity as managing director Philip Carr will remain in his post to helm the Portsmouth-based firm. “By joining the world’s largest franchisor of home services, Dream Doors will gain new vendor relationships, a powerful peer group of other Neighborly service brands and more,” said Carr. “Supported by Neighborly’s expertise moving forward, I look forward to this new phase of growth for our brand.”
With the dark cloud of Brexit hanging overhead, it’s refreshing to see that big UK deals like this are still an attractive proposition.