Flooring manufacturer offloads tile business in £30m deal
International flooring manufacturer Victoria has disposed of its Turkish ceramic tile business in a £30.9m (€36.8m) deal.
The Kidderminster-headquartered firm has offloaded Graniser, based in Izmir, to Hasan Akgün, who has paid £8.4m on completion alongside £22.5m of net debt.
The deal also includes a long-term agreement for the supply of Victoria-specific ceramic tiles at manufactured-cost pricing, which is expected to boost Victoria’s profit.
Graniser has been hit by recent instability in several of its key markets,... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
