Scottish group Victoria Carpets buys Spanish 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 31^st 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.