Dream Doors is bought by Neighborly

The home services brand, Neighborly, has bought Dream Doors in its latest acquisition deal.

Dream Doors will see a change of leadership following its acquisition by Neighborly (formerly Dwyer Group), a holding company with 22 service-based franchise organisations in its portfolio. Since being bought itself in 2018 by Harvest Partners, a New York-based private equity company, Neighborly has worked to rapidly expand its portfolio of brands.

Today, Neighborly manages eight brands across Europe and 22 worldwide, which encompass nearly 3,700 franchisees and generate a total turnover of over $2 billion.

Neighborly was impressed by Dream Doors’ business model, which improves customers’ kitchens, providing fitted kitchens, replacement doors and worktops and the installation of new appliances. The Portsmouth-based kitchen franchise has also built on its original model to construct bespoke bedroom wardrobes, increasing its customer base and revenue potential. A positive track record has enabled the hugely successful company to launch more than 90 locally-owned, franchised showrooms across the UK.

The acquisition signals a change of management for the kitchen brand, as its founder and chairman, Troy Tappenden, has made the decision to take a step back from the company, enabling the Managing Director, Philip Carr to monitor progress. Carr has played a vital role in the brand’s global growth since 2017, and so is perfectly placed to uphold Dream Doors’ expansion strategies in the future.

Neighborly’s president and CEO, Mike Bidwell, explained the reasoning behind the acquisition: "Dream Doors has delivered on its promise of 'new life for old kitchens and bedrooms' for the past 20 years, making the brand a perfect complement to Neighborly Brands' community of premium home services.”

With the backing of Neighborly, Dream Doors is set to continue its expansion and see success on a global scale, representing a lucrative franchise opportunity for investors interested in getting involved in the home improvement industry.