A WELLINGTON based bed making factory has been sold but it's still 'business as usual', says manager.

Steinhoff International Holdings has agreed to let go of its Blue Group Hold Co Ltd, which owns Bensons for Beds, Harveys Furniture, Steinhoff UK Beds and Formation Furniture, and Relyon.

The businesses will be taken over by Alteri Investors, a European investor specialist. 

Alan Chapman, managing director of the manufacturing group, said: "We can confirm the Steinhoff UK Manufacturing Group, including Relyon Ltd, as well as the Retail business Bensons for Beds and Harveys Furniture, is being acquired by Alteri Investors, which is a specialist investor in the European retail sector. The acquisition is subject to FCA approval.

"The Manufacturing Group, comprising Relyon Ltd, Steinhoff UK Beds Ltd and Formation Furniture has a strong manufacturing base and we are proud to be a best in class bedding and upholstery manufacturers who not only supply products within our own Group, but also to a wide selection of Blue Chip customers.

"Alteri is a hands-on investor with significant operational expertise. Alteri is backed by funds managed by affiliates of leading alternative investment manager Apollo Global Management LLC (NYSE: APO)."

Despite the changes, Mr Chapman says it is 'business as usual' in the run up to a key trading period.

He added: "This is a very exciting opportunity and we are delighted to be moving forward with Alteri Investors.

"With the backing of new owners, management will be able to drive continued improvement in the performance of the group, and make the most of our strong manufacturing capabilities.

"It will be business as usual for the manufacturing businesses on the run up to our key trading periods."