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Condor confirms Betap takeover
January 1, 2024
Leading European carpet manufacturer Condor has confirmed the acquisition of its Dutch compatriot Betap as a "nice fit" following media reports before Christmas.
Condor, with a turnover of nearly €500 million, will add €140 million of Betap’s sales and retain the Betap brand.
Jan Hoekman, CEO of Condor Group has commented: "This merger will mean we can respond even better to the market demand,
"There are also many advantages of scale to be gained. The two companies fit nicely together as regards products and markets. We are established in the same region and share the same values and standards. This also applies for the corporate culture," he added.
John Jaakke, CEO of Betap, said: "This is a good move for Betap. We are a top-notch company, but also clearly see what lies ahead of us. Together with Condor Group we are in a much better position to invest and to innovate. We will continue to operate independently, and that can only be to the benefit of the customer."
Betap is a family-owned operation established over 100 years ago and based in Genemuiden. The company has some 300 employees and produces 70 million square metres of tufted and non-woven carpet per year, exporting its products to 75 countries worldwide.
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