Victoria, an international flooring designer, manufacturer and distributor, has agreed to acquire the growing carpet division of Belgian flooring company Balta Group, as well as its UK polypropylene carpet and non-woven carpet business, and the Balta brand for 138 million euros.

Despite having sufficient financial resources to pay for the acquisition, the Victorian Board of Directors has arranged further preferred equity investments with KED Victoria Investments LLC, a subsidiary of Koch Equity Development LLC, to support further growth in due course.

The acquisition depends on the results of the separation of various departments from other departments of the Balta Group, and is expected to be completed in April 2022. Balta said it decided to sell these units to refocus on its commercial flooring business.

The board of directors believes that the acquisition is "an excellent strategic fit with Victoria's existing business." Upon completion, the Victorian Board of Directors is expected to have a 16% market share in the UK wide carpet market and a slightly less than 5% overall share in the UK flooring market.

Philippe Hamers, CEO of Victoria Group, commented: "The selective acquisition of two highly complementary companies will create great value for Victoria’s shareholders. Over the years, the carpet division has achieved great success. , There are very important operational synergies between the carpet department and Victoria’s existing businesses. These are businesses that Victoria is very familiar with."

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