UK's Victoria Carpets Buys LVT Distributor
Kidderminster, UK, Sept. 13, 2011 -- Carpet manufacturer Victoria Carpets is entering the luxury vinyl flooring market after buying distributor C & H Distribution Limited.
Victoria acquired the firm for an initial payment of $632,700. Another $79,000 will be due pending the achievement of sales objectives.
Paul Shaw, who has more than 23 years of floorcovering experience with Amtico, will lead the new venture.
C&H, based in Exeter, distributes luxury vinyl tiles, primarily to the contract market in the UK.
Under terms of the agreement, Victoria has acquired the brand and goodwill, along with other assets.
Victoria said it will create a new luxury flooring division to expand its product range and market penetration.
"For a modest outlay, it gives Victoria an immediate and significant entry into the luxury vinyl flooring market, a segment of the market which offers both higher margin and excellent growth potential," said group managing director Alan Bullock.