Scottish group Victoria Carpets buys Spanish Keraben
The ceramic tile manufacturer has been acquired for 274 million Euros
Rustic Jewels by Victoria Carpets.
Mixit by Keraben.
The Scottish group Victoria Carpets has recently bought the renowned tile maker Grupo Keraben headquartered in the Spanish province of Castellon, in a takeover deal worth 274 million Euros, buying the entire share capital from Keraben-Tensile Holdings and the founding family. The American Tensile Capital Management investment fund entered the Spanish group a few years ago already. Royal carpet maker Victoria Carpets is at present the UK´s largest carpet manufacturer. Bosses at Victoria Carpets believe the acquisition will support and continue Victoria Carpet´s drive into the European hard flooring market following the recently announced acquisition of Italian tile firm Ceramiche Serra.
Spanish Keraben Group holds a strong position, both in the Spanish domestic market and in the international field, with a strong revenue performance generating 118 millions of euros for the year ended December 31st 2016. Keraben-Tensile Holdings owned a 77,3% share and the founding Benavent family 22,7%. The acquisition operation of the European tile maker has been directed by Baird Capital and Livingstone Partners. Keraben´s current management team will carry on running the Spanish operation as part of the Victoria Carpets Group for a minimum period of three years to continue to develop its growth.