Completion of Acquisition of Cerámica Saloni

RNS Number : 1257X

Victoria PLC

08 August 2018

 

8 August 2018

Victoria PLC

("Victoria", the "Company", or the "Group")

Completion of Acquisition of Cerámica Saloni

The Board of Victoria (LSE: VCP), 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 ("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."

For more information contact:

Victoria PLC Geoff Wilding, Executive Chairman Philippe Hamers, Group Chief Executive Michael Scott, Group Finance Director	[phone]
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker) Rick Thompson, Phil Davies, Will Goode (Corporate Finance) Caspar Shand Kydd, Andrew Keith (Equity Sales)	[phone]
Berenberg (Joint Broker) Ben Wright, Mark Whitmore, Laure Fine (Corporate Broking) Buchanan Communications (Financial PR) Charles Ryland, Madeline Seacombe, Tilly Abraham	[phone] [phone]

About Victoria

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.

The Group's trading subsidiaries, as set out segmentally, include:

UK & Europe:	Abingdon Flooring Ltd, Alliance Distribution Ltd, Avalon B.V, Ceramiche Serra S.p.A., Distinctive Flooring Ltd, Ezi Floor Ltd, Grass Inc. B.V, Interfloor Ltd, Keraben Grupo S.A., Millennium Weavers N.V, Sandover Investments, S.L.U., Victoria Carpets Ltd, View Logistics Ltd, Westex (Carpets) Ltd, A. & A. Carpets Ltd
Australia:	Quest Flooring Pty Ltd, Primary Flooring Pty Ltd, The Victoria Carpet Co. Pty Ltd

 

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