Farhadian Farhadian

Balta sells business units Rugs, PP Residential and Non-Woven to Victoria

The British Victoria Group is taking over a large part of the business of Balta, Europe's largest manufacturer of textile floor coverings, with the business units Rugs, PP products for the home and Non-Woven. Balta states the sales price at EUR 225 million. The transaction is expected to be completed by the beginning of the second quarter of 2022. Until then, the business activities of the Balta Group will continue as before.

The businesses acquired by Victoria generated unaudited total revenue of EUR 307 million in the 12 months ending March 2021 (prior-year period: EUR 303.5 million) and normalised EBITDA of EUR 35.5 million (prior-year period: EUR 29.9 million).

More than half of this revenue was generated by the growing Rugs division in the 2020 financial year with EUR 182 million; this makes Balta's Rugs division the largest producer of area rugs in Europe and number two worldwide. The Rugs Division has a strong market presence in the US in particular, where it generates more than 35% of sales.

According to Victoria, Balta's Rugs Division will continue to operate largely autonomously under the leadership of Marc Dessein; Dessein has been Managing Director of the Balta Home rugs division since 2006.

In future, Balta intends to concentrate on its remaining contract business under the Modulyss and Bentley brands in Europe and the US as well as on the sale of high-quality polyamide products in the residential sector. For this purpose, the Belgians have already established the new business unit Commercial and Residential Europe on 22 November 2021 under the leadership of Managing Director Emmanuel Rigaux, the former Chief Transformation Officer.

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