Chestertons Global will be working closely with Chestertons UK under the new ownership of Campions Group, which completed the acquisition of one of the UK’s oldest estate agencies yesterday.
Chestertons, which was established in 1805 and grew to become one of the largest property companies in the UK, was bought out of receivership in 2005 by the current owner, Mercantile, led by British businessman Salah Mussa.
Since 2005 under the ownership of Mercantile Group and Mussa, Chestertons UK has grown from nine branches to 30 offices in the UK, with the brand, through Chestertons Global, successfully expanding to 12 other countries.
Mercantile will retain ownership of Chestertons Global and will continue Chestertons’ non-UK operations, while Chestertons UK, which has increased its revenue from less than £17m in 2006 to a forecasted revenue of £70m in 2023, will be operated by Campions Group, a subsidiary of Emeria, a major international provider of real estate services and technologies.
Salah Mussa, chairman of Mercantile Group, commented: “In the 19 years since acquiring Chestertons, I have watched the brand grow substantially to resume its place amongst the leading names in residential property.
“This has been possible thanks to the enormous hard work and dedication of everyone at Chestertons.
“With 2023 set to be a record year for the business, it demonstrates how we have transformed from a struggling small agency, into a thriving, resilient business.
“Emeria is an outstanding company with a significant global presence and one which I am confident will be able to further accelerate Chestertons’ growth and ensure the business delivers on its enormous potential. Chestertons Global will be working closely with Chestertons UK under the ownership of Campions to ensure that opportunities continue to be freely shared across all companies using the Chestertons brand.
“I would like to express my sincere gratitude to the entire Chestertons team, past and present, who have helped me build a strong brand with a unique culture. I wish them all the very best for an exciting and prosperous future ahead under Emeria’s leadership.”
