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Condor set to add Betap to secure its European dominance
December 20, 2023
Leading European carpet manufacturer Condor is reported to be ready to acquire its Dutch compatriot Betap, creating a dominant force in textile flooring on the continent and a major exporter to the UK.
Condor, with a turnover of nearly €500 million, will add €140 million of Betap’s sales if the takeover is confirmed. An official announcement is still awaited, but the proposed acquisition has been reported widely in the Dutch media.
“With the merger we can better and more successfully respond to the expectations of customers and changes in the market. In addition, the integration of experienced employees and innovations of Betap will further strengthen our product range,” says Condor in an internal email seen by the De Stadskoerier newspaper.
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.
The company has been led by two brothers Johan and Arend van Lente following the death of their father Albert and there have been legal disputes within the family. In 2022 an Amsterdam court appointed a third party to oversee its management pending a potential sale of the business.
For Condor, the transaction would extend a highly acquisitive period that has seen the Group add Béwé, VéBé, Timzo, Edel, Intercarpet and, most recently, Hartex BV to its portfolio.
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