Victoria (UK) in talks to buy part of Balta
The UK-based floorcoverings producer Victoria PLC has confirmed that it is in discussions to buy a part of the Belgian Balta Group. This was reported by the Reuters news agency. The board of the UK company said they saw "good synergy opportunities with Victoria' existing business".
Victoria is the UK's largest carpet manufacturer and also sells artificial grass, underlays, ceramic tiles, LVT and accessories in the UK, Europe and Australia. For several years, the group has been expanding, especially in the continental European flooring market, with a current turnover of GBP 662 million (EUR 789 million). Victoria PLC is headed by Philippe Hamers, formerly in charge of Balta's area rug division.
Both companies, Victoria and Balta, are listed on the stock exchange, Balta's main owner is presently Lone Star Funds, a private equity fund.Carpet Home-Newsletter: Click here for free newsletter subscription