Victoria adds more ceramics flooring
November 10, 2021
Acquisitive flooring conglomerate Victoria plc continues to build its ceramics portfolio with a £7m acquisition in Turkey – and says it has more money to invest.
The Kidderminster-based plc has add Graniser of Izmir, Turkey, to its ceramics operation. "Graniser diversifies Victoria’s ceramic tiles manufacturing footprint into a significantly lower energy, labour and raw material price environment, alongside strict quality governance," Victoria has told its shareholders.
Victoria plc sees high demand in the ceramics sector and already owns nine major brands, mainly in Italy and Spain.
Philippe Hamers, Group Chief Executive of Victoria, commented:
“Victoria’s ceramic tiles business continues to go from strength to strength. The low-cost manufacturing environment that Graniser offers will give Victoria the ability to leverage its manufacturing expertise and brand strength to further drive operating margins.”
Following completion of this acquisition, Victoria will have invested c. £201m in the current financial year. "We continue to have substantial amounts of capital to deploy and are in active discussions with additional high-quality opportunities to grow our business," said Geoff Wilding, Executive Chairman of Victoria.
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