Worcestershire-headquartered historic carpets maker Victoria has acquired a Dutch artificial grass company for a total consideration of £41.4m.
Established in 1918, Edel primarily supplies artificial grass for domestic and landscaping purposes across Europe, a market in which Victoria already has a presence following its February 2017 acquisitions of Avalon and GrassInc.
For the year ended 31 December 2020, Edel generated unaudited total revenues of €47.6m and normalised EBITDA of €10m.
Philippe Hamers, group chief executive at Victoria, said: "Victoria's 2017 investment in the premium artificial landscaping grass sector has been very successful and this acquisition represents an opportunity to create Europe's largest and most profitable
link source - Insider Media