West Yorkshire carpet firm in £16 million acquisition
Victoria plc a manufacturer, supplier and distributor of floorcoverings, has announced the acquisition of the Cleckheaton carpet manufacturer Globesign Limited for £16 million.
This includes its subsidiary, Westex Carpets Limited. No shares in the Company are being issued in respect of the Acquisition and there will be no changes to Victoria’s board of directors.
Geoff Wilding, Executive Chairman of Victoria PLC, commented: “Westex is one of the finest carpet manufacturers in the UK and I am very pleased Victoria has been able to reach an agreement with the directors, all of whom will be staying with the business for a minimum period of five years.
“As a result there will not be any changes to the existing sales, production and administrative operations at Westex following the Acquisition.
“Westex will continue to operate its own brands within the Victoria PLC group, maintaining the same level of high quality service for its customers.”