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Both companies announced that the cost would be around 600 million euros. According to Villeroy & Boch, it is the largest acquisition in the company’s history to date. The family group expects this to increase sales to 1.6 billion euros.
Although Villeroy & Boch is best known for its ceramic products and coffee cups, two-thirds of its sales of 995 million euros come from washbasins and toilets. The company, founded in 1748, is worth a good 250 million euros on the stock exchange. Ideal Standard has 7,000 employees who recently had a turnover of 737 million euros. There was a first takeover attempt two and a half years ago, but at that time a major shareholder in Villeroy & Boch expressed concerns about Ideal Standard’s financial situation. Villeroy & Boch stated that the takeover would significantly reduce the Belgian company’s debts.
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Source: Nachrichten
