Unfortunately, in 2001, succumbing to the rising costs of raw materials and the vastly increasing competitiveness and price consciousness of the market, Price’s Patent Candle Company filed for administration. An Italian company, Cereria Sgarbi Sp.A., bought the company before, in turn, being bought two years later by SER Wax Industry in the summer of 2003.
SER, another Italian owned company, is Europe’s leading raw wax materials manufacturer and what is now Price’s Patent Candles Ltd. was seen as a sensible acquisition; as a route to market and as an opportunity and challenge to both maintain Price’s heritage and return the company to it's former status. SER, headed by two Italian chemist brothers, Giuseppe and Piergiorgio Ambroggio, has wasted no time in turning the company around, amalgamating production at its site just outside Turin. Having made this move and invested heavily on updating machinery and improving supply routes, the company has come out fighting stronger than ever.
The head office and distribution centre of Price’s UK moved to Bedford, Bedfordshire where it remains today, servicing national stores, thousands of independent shops and exporting to dozens of countries. Whilst Price’s strives to maintain the original feel of the company, still producing candles from stearine for example, it is looking to become once again a world-leading, unified brand. The company aim to achieve this through innovative, quality products and second-to-none customer service.
With a stable platform, products of immaculate quality and a dedicated task force, Price’s will continue to hold a candle to the world.