Victoria PLC acquires Ceramiche Ascot

The flooring multinational completes its fifth acquisition in the ceramic sector and the second in Italy.

Victoria PLC, a UK-based multinational operating in the flooring sector and listed on the London Stock Exchange’s AIM market, has announced the acquisition of Ceramiche Ascot (Castelvetro, Modena), the second Italian ceramic company to join the group as well as the fifth tile manufacturing company acquired in just over two years. The first two investments made in November 2017, those of Ceramica Serra in Italy and Keraben in Spain, were followed by the acquisition of Saloni in August 2018 and Ibero in September 2019. This latest Italian acquisition brings the consolidated turnover of Victoria PLC’s ceramics division to 370 million euros and its total production capacity to around 35 million sq.m/year.

According to a statement issued by the group, Victoria has strong investment potential and intends to follow up the acquisition of Ascot with further operations in Italy. “Italian style and design are among the best in the world, so we are proud to be part of the Italian ceramic industry,” said Geoff Wilding, Executive Chairman. “Victoria has a significant presence in the ceramic sector and in the Sassuolo district in particular and will continue to invest in the activities of Ceramiche Serra and Ascot, as well as in the search for further opportunities for external growth.”

Ceramiche Ascot plans to consolidate its customer sales activities and to strengthen its marketing department, particularly in view of the forthcoming relaunch and repositioning of its brands. The company has also confirmed that the support of a financially and economically solid industrial group will enable it to improve its financial management, benefiting both business partners (in particular suppliers and customers) and employees, with whom it will re-establish future relations on a new footing. Victoria PLC has industrial and commercial operations ranging from ceramic and porcelain tiles to carpet, LVT and underlay. It has 20 manufacturing sites in the UK, Europe and Australia and employs approximately 2,600 people.

Its rapid expansion in the ceramic sector is part of an organic growth strategy aimed at diversifying and internationalising its operations with a view to becoming a multinational flooring group. In the Italian market in particular, the decision to add a second production site to that of Ceramica Serra responds to the need for greater production capacity and a product range that covers other market segments. Ceramiche Serra, led by Andrea Bordignon and his team, has seen steady growth in recent years thanks to a precise market position and extraordinary production efficiency. Capacity was further increased in 2018 with the installation of a new production line but is still insufficient to meet demand.