Target Entity: Wilko Online (trading via wilko.com)
Operating Entity: CDS Superstores International Ltd (Companies House no. 02699203) 8
Parent Entity: Norton Group Holdings Limited (Companies House no. 07896083) 9
Beneficial Owner: Chris Dawson (founder); Sarah Dawson (documented shareholder) 1
Audit Phase: V-ECON
Prepared: May 2026
Wilko Online maintains a dedicated brand storefront for Keter on wilko.com, covering storage boxes, outdoor sheds, garden furniture, and related outdoor living products 1314. Keter Group is an Israeli-founded conglomerate headquartered in Herzliya, Israel 12. The brand relationship is presented as a standard vendor arrangement, with Keter products listed alongside other branded outdoor goods. The precise contractual form — direct vendor, distributor-mediated, or drop-ship — has not been confirmed through public documentation; however, the dedicated brand page is consistent with a direct vendor relationship.
Keter has a UK market presence operating as a subsidiary distribution entity. The precise importer-of-record designation for Keter goods entering the UK through the wilko.com supply chain has not been confirmed via Companies House or HMRC customs records in this review. This sub-claim requires direct registry verification.
BC Partners, a London-based private equity firm, acquired a majority stake in Keter Group in 2016 16, meaning ultimate beneficial ownership sits within a UK-headquartered PE structure rather than exclusively within Israeli institutional ownership. Nonetheless, Keter’s operational headquarters, primary R&D, and a significant portion of manufacturing remain Israeli-domiciled 1215.
Wilko Online lists multiple Palram Canopia branded polycarbonate greenhouse products, including the Bella 8×12ft model and other product lines within that range 18. Palram Industries Ltd is headquartered in Ramat Yohanan, Israel, and is publicly listed on the Tel Aviv Stock Exchange (TASE: PLRM) 21. Palram’s UK subsidiary, Palram Applications UK Ltd, is based in Doncaster, England 19, and functions as the domestic commercial and logistical interface for UK retail customers. Based on the subsidiary structure, Palram Applications UK Ltd is the probable point of origin for domestic supply chain transactions, though its formal importer-of-record status has not been confirmed through direct HMRC or Companies House review in this audit.
Palram’s global operations include manufacturing and processing sites in multiple jurisdictions 20. Who Profits Research Centre has documented Palram in the context of Israeli industrial operations with relevance to the occupied territories 22; the specific scope of any settlement-adjacent supply chain activity should be verified directly against that source.
SodaStream gas canisters (Quick Connect Exchange format) are listed for sale on wilko.com 24. SodaStream products, including machines and accessories, are also stocked by The Range, the sister brand within the CDS Superstores retail estate 25. SodaStream is an Israeli-founded company acquired by PepsiCo in 2018; it is now a wholly owned subsidiary of PepsiCo (headquartered in Purchase, New York, USA), though its primary manufacturing operations remain within Israel 23. Profit flows from UK retail sales of SodaStream products therefore travel upward to PepsiCo’s consolidated accounts, not directly to an Israeli parent company.
Keter operated a manufacturing facility in the Barkan Industrial Zone, a settlement industrial park located in the West Bank. This operation was a documented subject of BDS campaign activity 29 and has been profiled by Who Profits Research Centre 28 and by Corporate Occupation / Forensic Architecture research 34. The Barkan facility was Keter’s primary basis for inclusion on BDS target lists for an extended period.
Under pressure from institutional investors following the BC Partners acquisition 16, Keter undertook a production rationalisation that redirected European export manufacturing toward facilities within the Green Line (Carmiel and Yokneam, Israel) and toward EU-based plants in Poland and Hungary 12. The precise date of any final cessation of operations at the Barkan facility is not confirmed in available sources; the shift is described in reporting as substantially advanced by approximately 2020–2022. Residual operational activity at Barkan post-2022 is unconfirmed and requires direct verification against current Who Profits or Keter investor disclosures. For any products supplied to Wilko Online via Keter’s European or UK distribution network, country-of-origin declarations on the goods themselves would be the operative compliance point; Keter-branded goods sold in the UK are not subject to the DEFRA food labelling guidance (which applies to food products only 30) and there is no comparable mandatory manufactured-goods settlement-origin labelling framework in UK law.
SodaStream’s primary manufacturing plant was formerly located at Mishor Adumim, an Israeli industrial zone adjacent to the Ma’ale Adumim settlement in the West Bank. Following sustained international pressure and a significant BDS campaign, SodaStream relocated its manufacturing operations to Rahat in the Negev/Naqab region (within Israel’s Green Line) in late 2015 2623. Who Profits Research Centre has maintained documentation on SodaStream’s history in this context 27. As of 2015 and continuing to the present, SodaStream manufacturing is within Israel proper; “Made in Israel” labelling on current products is geographically accurate and not subject to the DEFRA settlement-labelling guidance 30.
Who Profits Research Centre documents Palram Industries in the context of Israeli industrial operations with relevance to the occupied territories 22. Specific settlement-zone manufacturing by Palram is not independently confirmed in the training-data sources available for this audit. A prior AI claim regarding Palram’s polycarbonate materials being used in separation wall glazing or security infrastructure could not be corroborated here; the Who Profits entry 22 should be reviewed directly for current citations and sourcing.
Palram Industries is TASE-listed 21, and its products are used across construction, agricultural, and industrial sectors globally. UK-distributed products through Palram Applications UK Ltd 19 would be subject to standard CE/UKCA conformity marking requirements; no regulatory enforcement action against Palram UK or against Wilko Online relating to Palram product compliance has been identified.
The UK Government’s DEFRA guidance (2020) requires that food products originating from Israeli settlements in the West Bank, Gaza Strip, and Golan Heights be labelled as “Produce of West Bank (Israeli settlement produce)” rather than “Produce of Israel” 30. This guidance applies exclusively to food products and does not extend to manufactured polymer goods, plastics, greenhouse structures, or carbonation equipment. No evidence has been identified of any regulatory enforcement action against Wilko Online or CDS Superstores under this or any related labelling framework.
No public evidence identified of any stated corporate policy by Wilko Online, CDS Superstores International, or Norton Group Holdings regarding sourcing from, labelling of, or engagement with goods or services originating in occupied or contested territories. No supplier code of conduct, ethical trade framework, or Modern Slavery Act statement from CDS Superstores referencing this dimension was reviewed in this audit. These statutory disclosures are recoverable from the company’s website or Companies House and represent a gap in the current review.
No public evidence identified of direct capital investment by Norton Group Holdings, CDS Superstores International, or their beneficial owners in Israel or in the occupied territories — including real estate, manufacturing facilities, data centres, or logistics infrastructure.
Disclosed capital expenditure by the CDS group is concentrated in UK domestic infrastructure: the Stowmarket automated distribution centre and ongoing new store rollouts 635. Press reporting on the group’s financial position through 2025 focuses on UK turnover recovery, the integration of the Homebase estate 32, and the return to profitability 67. No Israeli capital deployment is referenced in any available financial reporting.
No public evidence identified of any R&D facility, technology partnership, innovation lab, or accelerator programme operated by Wilko Online or CDS Superstores within Israel.
Norton Group Holdings Limited is the parent entity within the structure 9. Sarah Dawson is documented as the sole or primary shareholder of Norton Group Holdings 19; Chris Dawson is the founder and operational driving force of the CDS estate, including The Range and Wilko brands 12. Sarah Dawson’s residency in Monaco is referenced in UK press coverage of the family’s tax and domicile arrangements 10, consistent with a structure in which profits flow from UK retail operations through Norton Group Holdings to Monaco-domiciled beneficial owners. This is relevant to V-ECON profit repatriation analysis (see below) but carries no identified Israeli dimension.
A prior claim that the Dawson family or Norton Group Holdings structure includes intermediate Jersey special purpose vehicles has not been independently confirmed in this review; full beneficial ownership mapping requires direct Companies House deep-dive, which is an identified gap.
No public evidence identified of disclosed holdings in Israeli-domiciled companies, Israeli sovereign bonds, or Israel-focused investment funds by Wilko Online, CDS Superstores, or Norton Group Holdings. The group does not publish consolidated investment portfolios or treasury disclosures in publicly available form.
No public evidence identified of offices, warehouses, retail locations, fulfilment nodes, or any other operational presence by Wilko Online, CDS Superstores International, or Norton Group Holdings within Israel or within occupied territories.
The group’s disclosed operational estate is entirely UK-domiciled: retail stores operating under The Range, Wilko, and (post-2024) Homebase fascias 43233; the Stowmarket distribution hub 6; and the wilko.com e-commerce platform 34. No overseas operational footprint of any kind has been identified in available reporting.
No public evidence identified of any workforce registration, employer tax registration, PAYE equivalent, or social security contribution by any entity within the CDS / Norton Group structure within Israeli jurisdiction. Employment disclosures in UK press are framed entirely around domestic headcount and job creation 67.
No public evidence identified of Wilko Online, CDS Superstores, or Norton Group Holdings characterising Israel as a current or target consumer market, an export destination, or a strategically significant geography in any annual report, investor communication, trade press release, or corporate website material.
Wilko (the original retail chain, trading as Wilkinson Hardware Stores Ltd / Wilko Retail Ltd) was founded in Leicester, England in 1930 by James Wilkinson 3. The brand has no Israeli founding history and no acquired Israeli-origin operations. Following a period of financial difficulty, Wilko entered administration in August 2023; PwC was appointed administrator 3. CDS Superstores International Ltd acquired the Wilko brand name and digital assets (wilko.com) from the administrator in October 2023 34.
CDS Superstores International Ltd (Companies House no. 02699203) is incorporated in England and Wales 8, founded by Chris Dawson, a British national originating from Plymouth / the Southwest of England 359. Norton Group Holdings Limited (Companies House no. 07896083) is also UK-incorporated 9. Neither entity has any Israeli incorporation, co-founding, or structural heritage.
CDS Superstores International Ltd’s registered office is in England and Wales 8. Operational activities are associated with the Plymouth and Southwest England regional base of the Dawson operation and the Stowmarket logistics hub 356. No dual or legacy Israeli headquarters exists. No Israeli domicile at any level of the corporate structure has been identified.
Wilko Fruit B.V. is a separate Dutch entity engaged in fresh produce trading and is entirely unrelated to Wilko Online / CDS Superstores International. This disambiguation is confirmed; any Israeli produce supply chain relationships involving “Wilko” in Dutch trade records or agricultural sector reports refer to this separate Dutch company, not the target entity.
Oron Group is a separate Israeli corporate entity with no structural, ownership, or commercial link to Norton Group Holdings or to the CDS Superstores estate. The name similarity is a coincidence; no connection has been identified.
No public evidence identified of any Israeli state ownership stake, government board appointee, government contract, designation as critical national infrastructure within Israel, or any formal relationship between the target entities and organs of the Israeli state. The group is a privately held, family-controlled UK retail conglomerate.
No public evidence identified of golden shares, founder shares, charter restrictions, or any governance mechanism tying Wilko Online, CDS Superstores, or Norton Group Holdings to the Israeli state or its policy objectives. Governance is characteristic of a privately held UK retail group with concentrated family beneficial ownership 19.
No public evidence identified of any disclosed revenue stream attributed to Israel as a consumer or trading partner by Wilko Online, CDS Superstores, or Norton Group Holdings. The group’s revenue base is entirely UK-retail-derived 67.
The dominant documented profit flow direction within the target group is: UK retail revenues → CDS Superstores International Ltd → Norton Group Holdings Limited → Dawson family beneficial owners (domiciled Monaco / previously Jersey) 110. After a period of losses following the Wilko brand acquisition and integration costs, Retail Gazette reported in October 2025 that the group had returned to profit 6, with City AM also covering the group’s financial recovery trajectory 7. No evidence of profit flows directed into Israel at the group or holding level has been identified.
While the target entity itself does not route profits to Israeli parties, purchasing activity on wilko.com generates revenue for Israeli-origin or Israeli-affiliated supplier entities:
In each supplier case, the profit repatriation runs from UK/EU subsidiary upward to the respective parent — Wilko Online is the UK retail intermediary generating the initial consumer transaction, not the entity repatriating profits to Israel.
No public evidence identified of any Israeli government designation, industry report, or academic or economic assessment characterising Wilko Online or CDS Superstores as significant to any sector of the Israeli economy. The group’s UK economic footprint — employment, rates, VAT, and supplier spend — is the primary documented economic contribution.
https://en.wikipedia.org/wiki/Chris_Dawson_(businessman) ↩↩↩↩↩
https://en.wikipedia.org/wiki/The_Range_(retailer) ↩
https://www.wilko.com/en-uk/corporate/cds-superstores-owners-of-the-range-and-wilko-aquire-homebase ↩↩↩↩
https://www.retailgazette.co.uk/blog/2024/12/the-range-amazon/ ↩
https://www.retailgazette.co.uk/blog/2025/10/wilko-the-range-owner/ ↩↩↩↩↩↩↩
https://www.cityam.com/the-range-owner-confident-of-sales-success-but-homebase-rescuer-struggles-to-return-to-profit/ ↩↩↩↩
https://find-and-update.company-information.service.gov.uk/company/02699203/filing-history ↩↩↩
https://find-and-update.company-information.service.gov.uk/company/07896083 ↩↩↩↩↩↩
https://www.devonlive.com/news/devon-news/range-owner-plymouth-billionaire-chris-9897282 ↩↩
https://wed-mag.co.uk/cds-superstores-partners-with-gregory-distribution-to-make-landmark-move-into-electric-hgvs/ ↩
https://www.wilko.com/en-uk/shop-by-brand/keter/c/6028 ↩
https://www.wilko.com/en-uk/shop-by-brand/keter/all-keter/c/6495 ↩
https://www.keter.com/en-gb/ ↩
https://www.bcpartners.com/news/bc-partners-acquires-majority-stake-in-keter-group/ ↩↩↩
https://en.wikipedia.org/wiki/Palram_Industries ↩
https://www.wilko.com/en-uk/palram-canopia-bella-polycarbonate-8-x-12ft-greenhouse/p/0527968 ↩
https://www.palram.com/global_operations/ ↩
https://www.whoprofits.org/companies/company/palram-industries ↩↩↩
https://www.wilko.com/en-uk/sodastream-quick-connect-exchange-gas-canister/p/8074444 ↩
https://www.therange.co.uk/cooking-and-dining/drinks/sodastream/ ↩
https://www.reuters.com/article/us-sodastream-boycott-idUSKBN0TK1SR20151201 ↩
https://www.whoprofits.org/companies/company/sodastream ↩
https://www.whoprofits.org/companies/company/keter-plastics ↩
https://bdsmovement.net/get-involved/what-to-boycott/keter ↩
https://www.gov.uk/government/publications/notice-to-exporters-201005-labelling-of-goods-from-israeli-settlements ↩↩↩
https://en.globes.co.il/en/article-1001077005 ↩
https://www.interiordaily.com/article/9729638/cds-superstores-revamps-former-homebase-sites-into-new-superstores-after-acquisition/ ↩↩↩
https://www.kandbnews.co.uk/news/homebase-sold-to-the-range-and-wilko-owner/ ↩↩
https://corporateoccupation.org/keter/ ↩
https://www.cornwalllive.com/news/cornwall-news/ranges-chris-dawson-went-trading-8967348 ↩↩↩
