Strike name set to disappear as new combined company to be called ‘Purplebricks’

The combined business of Strike and Purplebricks is “highly likely” to take the Purplebricks name eventually, Strike CEO Sam Mitchell (main picture) told The Neg.

He says the strength of the Purplebricks brand was one of the main reasons for the decision to buy it, and that the Strike name could disappear.

“It is highly likely we would want to row in under the big umbrella of that brand,” he says. A decision on a name for the combined company will be made later this year.

Mitchell is a big admirer of how Purplebricks “burst onto the scene”, and when he found out it was up for sale he picked up the phone “incredibly quickly”.

Strike’s bid of £1 was accepted by the Purplebricks board, but is still subject to a vote by shareholders.

Clear plan

The two businesses will run separately to begin with, if the deal is approved, Mitchell says. But “going forwards we have a clear plan backed by big strategic investors”.

Sir Charles Dunstone is a major backer of Strike through his Freston Ventures business, and is also well-known for his involvement in household brands such as Talk Talk and Carphone Warehouse.

The board at Purplebricks, including chairman Paul Pindar and CEO Helena Marston, are to stand down under the terms of the deal. Only CFO Dominique Highfield is to stay on.

Big, transformative and disruptive.”

Mitchell told The Neg the plan is to create a new business that is “big, transformative and disruptive”, making the process of buying a home much easier.

He says the new company will develop technology that takes much of the stress out of purchasing a property.