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Fairfax Buys Their First Non-Insurance Business!


Parsad
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Wife told me she wants to go to next years ASM  ;D

 

I suspect they'll have a William Ashley booth so shareholders can see the product and get more information.  The number of booths have increased dramatically in the last couple of years, and I can't see them getting less anytime soon!  Hopefully, we see another couple of acquisitions this year.  Cheers!

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Wow. I last remember seeing the William Ashley name in the '80s as a kid delivering the Toronto Star. They used to have a weekly ad on the back page of the Starweek TV guide. 

 

I would be interested in knowing more about this acquisition too (size of business, purchase price, etc.).

 

DP

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I thought china was sort of a dead business. I know we had to dispose of some estate china a few years ago and had a hard time as no one wanted the bother of the special care for them. Not dishwasher safe and all that. Is china the only product of this company.

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Wife told me she wants to go to next years ASM  ;D

 

I suspect they'll have a William Ashley booth so shareholders can see the product and get more information.  The number of booths have increased dramatically in the last couple of years, and I can't see them getting less anytime soon!  Hopefully, we see another couple of acquisitions this year.  Cheers!

 

Amazing how Prem builds Fairfax with his first non-insurance investment, this resembles so much Buffetts Borsheims ownership.

But I guess most forum members here aren't yet aware of William Ashley's crazy marketing campaign in front of their Toront store.  ;)

They put sports cars on top of 4 China tea cups to show how strong their products are. :o

They had Lamborghinis in the past, and in 2008 a white Tesla Roadster.

 

 

Lamborghini Superleggera On Teacups Takes “Bull In China Shop” To Literal Extreme

2008-09-09

http://jalopnik.com/5047458/lamborghini-superleggera-on-teacups-takes-bull-in-china-shop-to-literal-extreme

http://cache.gawkerassets.com/assets/images/12/2008/09/medium_Lamborghini-Tea.jpg

 

 

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http://megawattpr.files.wordpress.com/2008/11/shocking-visuals-win.jpg

 

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Lamborghini on Teacups

2006-09-21

http://www.bagofnothing.com/2006/09/lamborghini-on-teacups/

http://www.bagofnothing.com/wordpress/wp-content/uploads/2006/09/teacups.jpeg

 

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Tesla Roadster on four teacups, plus... Jonas Brothers

2009-09-12

http://green.autoblog.com/2009/09/12/tesla-roadster-on-four-teacups-plus-jonas-brothers/

http://www.blogcdn.com/green.autoblog.com/media/2009/09/tesla-roadster-on-teacups.jpg

 

Tesla Tea Party: Cups Hold Up Heaping Helping Of Tesla

2009-12-11

http://jalopnik.com/5357422/tesla-tea-party-cups-hold-up-heaping-helping-of-tesla

http://cache.gawker.com/assets/images/12/2009/09/500x_Tesla-On-China-Toronto-TOP_2.jpg

 

http://www.ohgizmo.com/wp-content/uploads/2009/09/teacup_tesla.jpg

 

 

Maybe Prem let us all drive the cars at the next AGM ::)

and let's hope that Fairfax is good insured  ;D

 

 

 

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William Ashley also had a sort of Mrs. B, her name was Tillie Abrams. She unfortunately died last year at the old age of 98. Abrams was born in Poland and came to Canada as an infant. The retail business was in her blood. Her father owned a paint and wallpaper business, where she worked after school starting at the age of 13. Her son, Alan Stark, is still active in William Ashley China, and her grandson, Dean Stark, is the CEO. The eldest son, Brian Stark, 73, is a Toronto lawyer.

 

read the full article:

Tillie Abrams was the woman behind William Ashley

2010-05-20

http://www.thestar.com/living/article/811832--tillie-abrams-was-the-woman-behind-william-ashley?bn=1

 

http://media.thestar.topscms.com/images/df/23/a890b7e442c495f85dcb39f1bc00.jpeg

 

----------------------

 

William Ashley China

 

web site @ ----> http://www.williamashley.com/

 

 

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I also played a little the sleuth dog again.  :D

It seems that last February Loudon McLean Owen, through his company, McLean Watson Investments Ltd., bought a controlling stake in William Ashley Ltd.

So they are probably the sellers of this controlling stake to Fairfax.

 

Cheers !

 

the February 2011 article from newswire:  http://www.newswire.ca/en/releases/archive/February2011/15/c3121.html

 

article from the Globe & Mail:

Iconic Toronto retailer William Ashley acquired by McLean Watson

2011-02-15

http://www.theglobeandmail.com/report-on-business/iconic-toronto-retailer-william-ashley-acquired-by-mclean-watson/article1909070/

 

 

 

 

McLean Watson Investments Ltd

http://www.mcleanwatson.com/index.html

 

Loudon McLean Owen

http://www.mcleanwatson.com/t_owen_loudon.html

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        William Ashley China Store's windows cool video clips display

 

A cool video display at Ashley store's windows. They used one single projector to display three or two independent video clips on a circular glasses pinned on the windows. Ashley is located between at Young/bloor and Bloor/Bay in Toronto,Canada. If you live in toronto or u happen to be here, go and check it out. It is really a cool technology called Vikuiti Rear Projection Film.

 

                     

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Here's a YouTube viceo clip with Jackie Chiesa, the general manager of the Toronto store. She talks about their sponsorship of the race cars and the strength of bone china teacups.

 

NewCa.com: 2011 IndyCar Parked on Bone China Teacups

2011-06-16

 

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http://www.youtube.com/watch?v=VmPK1lkOINU

 

 

http://www.youtube.com/watch?v=E3X8wPMvns0

 

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Some web site estimates the revenues of $18,563,120 for William Ashley and with an estimated 150 employees.

I would treat these numbers with real caution, because we don't have a real view inside their balance  and income sheets. ::)

Anyway its a neat small acquisition for Prem and his folks.

 

http://www.manta.com/coms2/dnbcompany_lsgml6

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