Flooring giant generates record revenues of £1.46bn
Kidderminster flooring designer, manufacturer and distributor Victoria has revealed it sold more than 200 million sq m of flooring in its last financial year – more than 29,500 football fields.
This has generated record revenues of £1.46bn for Victoria, which has 7,300 staff employed across more than 30 global sites.
The acquisitive firm integrated four companies in the last year and the new additions are expected to deliver a more than £20m per year increase in EBITDA.
Victoria’s £86m purchase of Spanish tile manufacturer Cerámica Saloni in 2018 has resulted in the consolidation of its operations in Spain this year.
Europe’s leading producer of rugs Balta, was acquired in a deal worth £117m. The firm will move carpet manufacturing operations from Belgium to Victoria’s existing UK factories, as 80% of Balta’s carpet is sold in the UK.
Turkish ceramic tile manufacturer Graniser was picked up in a £7.1m deal. The integration of the company involves merging into Victoria’s existing Italian and Spanish factories to increase annual production capacity at Graniser to eight million sq m.
Cali Flooring was acquired for £55.1m to boost US distribution capabilities with Victoria planning to weave the firm into its logistics platform.
Geoff Wilding, Executive Chairman commented: “Victoria benefits greatly from being in a long-duration, steady growth industry that will drive compounding organic growth for decades. After making two-dozen careful acquisitions over the last 10 years we have now achieved a scale that, once we have completed the current integration projects, will result in higher productivity, more efficient logistics, wider distribution, and lower input costs than almost all our competitors.
“Coupling this scale advantage with the underlying sectoral tailwinds will, the Board believes, deliver outsized returns for our shareholders for a very long time.”
