Acquiring hard flooring distributor Cali Bamboo Holdings Inc not only provides a North American base for floorcoverings and tiles manufacturer Victoria (LON: VCP) it also provides other opportunities.
Victoria is paying $76.1m (£55.1m) for Cali and repaying $27.8m (£20.1m) of debt. In the year to April 2021, revenues were $171.6m (£124.3m) and EBITDA of $13.8m (£10m). Revenues have been growing at 17% a year over the past five years. Margins are lower than for the group because Cali is not a manufacturer.
This is the latest in a raft of acquisitions in recent months. Victoria has spent more than £160m and it has added annualised EBITDA of £27m.
Victoria previously acquired Italy-based ceramic tiles manufacturer Ceramiche Santa Maria, plus two distribution businesses for €35m. Net...