Victoria PLC Acquires Cerámica Saloni
The Board of Victoria, the international designers, manufacturers and distributors of innovative floorcoverings, is pleased to confirm that further to the announcement released on 6 August 2018 it has completed the acquisition of Cerámica Saloni, a European manufacturer of mid to high-end ceramic and porcelain tiles.
Geoff Wilding, Chairman of Victoria commented:
"Saloni is an excellent fit for the Victoria Group, bringing solid management, growing profits, and significant operational synergies with Keraben, which is located nearby. We will continue to grow our European business and expect to announce further acquisitions in due course.
Alejandro Navarro, Director General of Cerámica Saloni commented:
"We are very pleased that Victoria has acquired Saloni. They have proven to be very high-quality operators and I know Saloni will continue to go from strength to strength under their ownership - especially with the meaningful synergies that exist with Keraben."
Established in 1895 and listed since 1963 and on AIM since 2013 (VCP.L), Victoria PLC, is an international manufacturer and distributor of innovative flooring products. The Group, which is headquartered in Kidderminster, designs, manufactures and distributes a range of carpet, underlay, LVT (luxury vinyl tile), ceramic tiles, artificial grass and flooring accessories. Victoria has operations in the UK, Spain, Italy, Belgium, the Netherlands and Australia and employs approximately 3,000 people across more than 21 sites. Victoria is the UK's largest carpet manufacturer and the second largest in Australia.
The Group's strategy is designed to create value for its shareholders and is focused on consistently increasing earnings per share via acquisitions and sustainable organic growth.