Family members bid for Wedgwood

Two members of the Wedgwood family said today they were considering a bid for the ceramics business which bears their famous name.

The eighth-generation descendants of Josiah Wedgwood, who founded the firm in the UK in 1759, are in talks with five investors over a possible bid for the business and plan to bring production of Wedgwood and Royal Doulton back to the UK if successful.

Wedgwood is part of the struggling Waterford Wedgwood firm which called in administrators last month. Crystal maker Waterford bought Wedgwood in 1986.

But Tom R Wedgwood – a director of Wedgwood in Japan until three weeks ago - and Tom D Wedgwood, co-founder and director of Newton Industrial Consultants, are leading a team consisting of four former directors, other members of the Wedgwood family as well as professional advisers.

Tom R Wedgwood said: “I am passionate about Wedgwood, it epitomises all that is great about British manufacturing – skilled craftsman and design and a global brand that represents quality and luxury, something that is going to last for another 250 years.”

The news came amid reports of an offer for Waterford Wedgwood from US private equity firm Clarion Capital on Saturday, according to the Daily Telegraph.

Production was halted at the firm’s Kilbarry plant outside Waterford by a staff sit-in on Friday as receiver Deloitte announced the loss of 480 of 800 jobs.

Tourism Minister Martin Cullen said on Sunday: “My understanding is that before midnight last night [Clarion Capital] launched a substantial bid for the company.”

It is understood that Clarion is acting with the support of John Foley, former chief executive of Waterford Crystal, who stepped down in January.

The private equity firm held talks in Dublin last week about a potential take-over of the troubled glass factory, formerly controlled by media tycoon Anthony O’Reilly and his brother-in-law Peter Goulandris.

Trade union officials said they were told of a commitment by the US-based investors to keep the factory open for at least another 10 years.

New York-based KPS Capital Partners has also expressed an interest in Waterford.

A spokeswoman for Deloitte said today: “We are not going to comment on discussions with interested parties.”

The business collapsed after negotiations with a private equity firm for parts of the business failed to bear fruit.

The group is best known for Wedgwood pottery, Royal Doulton and Waterford crystal.

It had struggled for years despite attempts to restructure the business, new product launches and more modern lines designed by stars such as chef Gordon Ramsay and designer Terence Conran.