Kohlberg Kravis Roberts Signs Agreement to Acquire
October 23, 2006, New York, NY--Kohlberg Kravis Roberts & Co. (« KKR ») today signed a definitive partnership agreement with the Deconinck Family (the “Family”) by acquiring 50% of the share capital of SIF (Société d’Investissement Familiale), a company currently fully owned by the Family, that controls the majority of Tarkett S.A. (« Tarkett » or the “Company”), a global leader in flooring products for the residential and commercial markets. Simultaneously, SIF will acquire most of the Tarkett shares it does not already own from financial investors. The long-term objective of this partnership between KKR and the Family is to support Tarkett’s management in the Company’s global development through organic growth and selected acquisitions, as well as in the continuation of the company’s long-standing innovation policy. Jacques Garaïalde, Managing Director of KKR declared: “We are very satisfied to become a privileged partner to the Deconinck family in Tarkett, a global leader in its core markets with attractive development opportunities. We intend to provide our support and expertise to the Company’s management and help them implement their long-term strategic initiatives.” Didier Deconinck, Chairman of the Supervisory Board of Tarkett SA, declared: “Our alliance with KKR marks the beginning of a new era. It will enable the minority shareholders who have supported us for a number of years to exit on good terms, and it will provide our company with a new and sustainable basis to respond to the challenges and opportunities it will have to face in a rapidly changing world.”
Related Topics:The International Surface Event (TISE), Tarkett