LUGGAGE firm Antler is heading into Europe after a £40 million management buy-out.

Bosses at the Bury-based company want to boost exports to the Continent after purchasing the firm from its parent group Wassall.

They say that staff and customers alike will benefit from the buy-out, and forecast security and even expansion as the leisure industry continues to grow.

Antler Ltd, which has its headquarters in Alfred Street, Bury, was taken over by London-based Wassall ten years ago. It employs 150 people in Bury and around 250 overall. Most of its manufacturing now takes place abroad: the main business here is in designing and quality control.

Mr Brian Wreford, marketing director, said that Wassall had been looking at selling off various parts of its business interests. "In many respects there's no change," he said, "but we can all feel more secure and more settled than we have done for a while, knowing that Wassall wanted to sell us.

"It's the best outcome for the staff, the customers and the management: we're very pleased."

Mr Wreford said that turnover, which was £25 million last year, had increased gradually each year this decade.

The directors are confident they can build on Antler's status as the UK's market leader by expanding its position in the high street and also by further developing its business with Marks and Spencer.

They are also looking at boosting exports to Europe, until now a minor part of the business, following encouraging results from market trials.

Mr Wreford added: "Last year Britons made more than 50 million trips overseas, 60 per cent up on 1990, and this growth is predicted to continue for the next ten to 15 years at least.

"By the new Millennium, tourism is likely to become the world's largest industry. We feel the prospects for a top luggage brand can only be extremely positive."

The buy-out was backed by the Royal Bank of Scotland.

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