Carpets group confirms interest in Spanish floortiles manufacturer

Ceramiche Serra

Worcestershire carpets and floorcoverings group, Victoria has confirmed it is assessing the potential acquisition of a Spanish ceramic tile manufacturer.

In a brief statement to markets, the Kidderminster-based group said it noted press speculation surrounding the potential sale process being undertaken by the owner of Keraben Grupo.

It said: “The board has previously stated that it is part of its growth strategy to make highly selective acquisitions and therefore it is frequently in discussions with a number of parties.

“The board can confirm that it is evaluating a number of opportunities including this one.”

The move comes just weeks after the group invested £50m in the acquisition of Italian floortiles manufacturer, Ceramiche Serra.

The acquisition marked Victoria’s first move into the ceramic flooring market, which is the largest flooring sector in the world, representing over 60% of flooring sold globally and 30% of flooring sold in Europe.

It said at the time of the Ceramiche Serra deal last month that the acquisition opened up a large new market for the business – and one where there was significant opportunity for further acquisitions.

Victoria said that if the Spanish deal was to proceed then it would be classified as a substantial transaction for the purposes of the rules of the Alternative Investment Market.

However, it said there was no guarantee that the sale would proceed.

It said a further announcement would be made in due course as appropriate.

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