Balta: Business units officially transferred to Victoria
Three of Balta's main business units are now owned by the British Victoria Group: the business units rugs (Balta Home), PP products for the home and non-woven were transferred to Victoria on 4 April; the Balta brand was also handed over to the British. The transaction had already been announced at the end of 2021; it was now completed on 4 April.
With this, Balta is now concentrating more on the remaining business areas, which include textile floor coverings for the contract sector: In Europe, these are mainly served by the Modulyss brand (carpet tiles), in the USA by Bentley Mills (carpet tiles, broadloom, LVT). The higher-quality polyamide floor coverings for the residential sector will also remain under the ITC brand with the Belgians, who will continue to run the company under a new name in the future. The new name will be announced in the third quarter of the year.
Cyrille Ragoucy, CEO and Chairman of Balta, thanked the entire Balta team for their passion, commitment and hard work, without which the "mutually beneficial transaction" would not have come about.
Commenting on the transaction, Victoria CEO Philippe Hamers said: "We look forward to working closely with our new colleagues and further developing the planned synergies that will be made possible by joining our established business."Carpet Home-Newsletter: Click here for free newsletter subscription