Loyens & Loeff proudly assisted Balta Group (XBRU: BALTA), the largest producer of textile floor coverings in Europe, with the sale of its Rugs, Residential PP and Non-Woven businesses, together with the Balta brand to Victoria PLC (LSE: VCP), a United Kingdom-based leading designer, manufacturer and distributor of flooring products.
The acquisition is expected to be completed in Q2 2022 and has a value of €225 million on a debt and cash free basis.
The deal will allow Balta Group to focus on developing its commercial businesses in Europe and the United States under the main brands modulyss and Bentley Mills, as well as its premium European Residential polyamide business, with a stronger cash flow and balance sheet.
The team was led by Partner Robrecht Coppens, Senior Associate Mathias Hendrickx and Associate Céline De Vuyst (Corporate/M&A) with the support of our Belgian colleagues Marc Vermylen, Filip Saelens, Stéphanie De Smedt, Julien Lecler, Wannes Buelens, Eline De Ryck, Eugénie Mennig, our Dutch colleagues Marc Wiggers, Robin Struijlaart and Robert Fröger and our Luxembourg colleagues Michael Scott, Madeleine Marques and Diogo Morgado Filipe.
Our team was involved in all legal aspects of this complex transaction and led the negotiations for Balta Group.