// Tile Giant has been snapped up by former Topps Tiles chief executive Matt Williams
// The tile retailer’s chief executive Michael Ashley is replaced by Nathan Burkey
Former Topps Tiles chief executive Matt Williams has acquired its big rival Tile Giant, it has emerged.
Stiled, a company owned by Williams, bought the retailer, which operates more than 80 stores nationwide, for an undisclosed sum earlier this month.
Tile Giant’s chief executive Mike Ashley has stepped down from his role following the acquisition.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Tile Giant was owned by builder’s merchant Travis Perkins until 2020, when it was sold to Leeds-based investment group Coverings.
In 2021, its most recent financial update, Tile Giant’s sales edged up to £46.2m as it returned to profit.
It posted a pre-tax profit of £878,000, up from a loss of £4m.
Few know more about the world of tiling than Matt Williams. He spent 12 years at the helm of market leader Topps Tiles, the business his father Stuart founded.
Williams stepped down from Topps Tiles in November 2019 to pursue “a new challenge”.
He has since founded Stiled with a group of friends and family. The firm focuses on selling tiles and paving for outdoor spaces.
Click here to sign up to Retail Gazette‘s free daily email newsletter
