Victoria Acquires Balta's Rug Division & UK Carpet Businesses
Worcestershire, UK, November 29, 2021-Victoria will acquire the growing rugs division of Belgium-based flooring company Balta Group, along with its UK polypropylene carpet and non-woven carpet businesses, and the Balta brand, for €138m.
Victoria is a UK-based flooring designer, manufacturer and distributor. In June 2021, Victoria acquired Cali.
Balta owns U.S.-based commercial carpet tile firm Bentley Mills, which was not a part of the acquisition.
Despite having the financial resources to cover the purchase, Victoria's board has arranged a further preferred equity investment with KED Victoria Investments, an affiliate of Koch Equity Development, to support further growth in due course.
The acquisition, which is subject to the conclusion of the carve-out of the various divisions from the rest of the Balta Group, is expected to conclude in April 2022. Balta says it decided to sell the divisions in order to refocus on its commercial flooring business.
Post-completion, Victoria’s board expects to have a 16% market share of the UK broadloom