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Victoria acquires Italian ceramic tile groups for €35m
StockMarketWire.com
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Flooring manufacturer Victoria said it had acquired ceramic tile distributors Ceramica Colli, Vallelunga and Ceramiche Santa Maria for around €35 million.
Victoria said the businesses were located near its existing Italian operations and would bring significant additional spare production capacity.
'These acquisitions follow Victoria's recent announcement of the very strong growth that has been achieved by the Group's Italian business,' the company said
' It has recently been operating at full capacity with some production again being outsourced to third parties in order to meet customer demand.'
The deal would be funded from existing cash resources.
Story provided by StockMarketWire.com
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