Investindustrial's Oka bolts on Wisteria

Investindustrial-backed furniture and homeware retailer Oka Direct has bolted on US business Wisteria.

The transaction comes eight months after the GP acquired Oka in a transaction that valued the business at £40m, a source told Unquote at the time.

According to local media reports, Wisteria's co-founders will continue to be involved in the business following the deal.

At the time of Investindustrial's initial investment in Oka, the group's 2018 forecasts were to generate £4m in EBITDA against £30m in revenues.

Company
Founded in 2000 and headquartered in Dallas, Texas, Wisteria is a furniture and soft furnishings retailer.

People
Wisteria – Andrew Newsom (co-founder, CEO); Shannon Newsom (co-founder).

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