Karndean invests in European expansion
Leading LVT company, Karndean International, has announced a major expansion of its operations in mainland Europe with the acquisition of mFLOR International B.V (MIBV) in the Netherlands.
The mFLOR brand is well respected in Europe, especially the Netherlands where the business is headquartered in Twello (pictured left). With this acquisition, Karndean has substantially increased its reach in Europe as part of its strategy for growth in key markets.
The terms of the acquisition have not been disclosed. mFLOR will operate as a wholly owned subsidiary of Karndean International Limited, sitting alongside its existing sister company Designflooring International GmbH.
Paul Barratt, managing director for Karndean Designflooring said, “This is exciting news as we welcome mFLOR to the Karndean International family. This is a strategic acquisition of a strong brand in a territory we have wanted to increase our reach in for many years. mFLOR are highly respected and operate in a segment of the market we haven’t historically focused. I am very much looking forward to working with Eef and the rest of the mFLOR team to continue to grow the brand.”
One of the three shareholders of MIBV, Eef Van Leusden will remain as general manager running the business as he has for the last 25 years.
Reflecting on the acquisition Eef Van Leusden, general manager of MIBV, said “It has been a long road, and for us, the shareholders of MIBV, it has always been very important that the continuity of the company, our own people and customers is guaranteed. With this acquisition, I believe that, in collaboration with Paul and Karndean Designflooring, we have achieved this.”
