VILLEROY & BOCH AG (FRA:VIB3) EQS-Adhoc: Villeroy & Boch AG: Villeroy & Boch acquires Ideal Standard Group
Transparency directive : regulatory news
18/09/2023 07:59
|
EQS-Ad-hoc: Villeroy & Boch AG / Key word(s): Mergers & Acquisitions
Villeroy & Boch acquires Ideal Standard Group
Mettlach, 18 September 2023. Villeroy & Boch has today signed binding agreements to acquire all of the operating companies in the Ideal Standard Group. The Ideal Standard shares are being sold by funds under the management of Anchorage Capital Group and CVC Credit. All group operating companies are covered by the transaction, including business activities in the Middle East and Africa previously operated by the Ideal Standard Group in a joint venture with Roots Group Arabia. Shareholder loans amounting to no more than approximately € 93 million will be carried forward, which significantly reduces Ideal Standard Group’s gearing. Ideal Standard is a multinational supplier of bathroom products. The company employs more than 7000 people worldwide and operates 11 production sites in Europe and the Middle East. In 2022, Ideal Standard registered sales of around € 737.2 million, with adjusted EBITDA of around € 73.7 million. The two companies are a perfect fit given their regional presence, sales strategies and product and brand portfolios, laying the foundations for a stronger competitive position and additional growth. In an industry that has global growth potential, the integrated company will join Europe’s largest manufacturers of bathroom products in terms of sales. The total acquisition price is based on a company valuation of approximately € 600 million. Villeroy & Boch is financing the transaction from its own liquid funds and with borrowing of € 250 million. Completion of the transaction is subject to the usual conditions and regulatory checks, in particular merger approval, and redemption of the € 325,000,000 bond issued by the seller Ideal Standard International S.A., Luxembourg. The transaction is expected to be concluded in early 2024. Investor relations contact Susanne Reiter Head of Corporate Treasury and Investor Relations Tel.: +49 (0) 68 64 81 12 27 Email: reiter.susanne@villeroy-boch.com Media contact Anabell Westrich Corporate Communications Tel.: +49 (0) 68 64 81 13 38 Email: westrich.anabell@villeroy-boch.com End of Inside Information
18-Sep-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Villeroy & Boch AG |
| Saaruferstraße 1-3 | |
| 66693 Mettlach | |
| Germany | |
| Phone: | +49 (0)6864 81-0 |
| E-mail: | information@villeroy-boch.com |
| Internet: | www.villeroy-boch.de |
| ISIN: | DE0007657231, DE0007657207 |
| WKN: | 765723 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1727771 |
| End of Announcement | EQS News Service |
|
|
1727771 18-Sep-2023 CET/CEST
source : webdisclosure.com
VILLEROY & BOCH AG's latest news
24/10/2024 08:00
31/07/2024 08:00
04/07/2024 10:17
15/05/2024 08:00
29/02/2024 10:00
20/10/2023 08:00
26/09/2023 18:59
18/09/2023 07:59
20/07/2023 08:00
25/04/2023 08:00
Other stories
26/12/2024 10:45
25/12/2024 08:30
25/12/2024 23:06
26/12/2024 08:00
25/12/2024 21:55
26/12/2024 09:37
26/12/2024 06:58
26/12/2024 09:28
26/12/2024 07:12
UK faces 24cm snow storm with only 'one' part of England lucky enough to be spared - Birmingham Live
26/12/2024 07:00
26/12/2024 07:09
26/12/2024 06:43
25/12/2024 06:40
24/12/2024 10:16
26/12/2024 08:15
26/12/2024 06:00
26/12/2024 01:01
26/12/2024 08:03
24/12/2024 11:58
26/12/2024 08:21
26/12/2024 02:44
26/12/2024 06:00
26/12/2024 00:57
25/12/2024 21:26
26/12/2024 09:00
26/12/2024 06:50
26/12/2024 07:30
26/12/2024 09:01
26/12/2024 07:00
26/12/2024 08:50
24/12/2024 15:07
24/12/2024 15:56
24/12/2024 20:00
25/12/2024 13:22
26/12/2024 08:00
25/12/2024 20:21
26/12/2024 09:00
26/12/2024 02:21