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UK Floorcoverings Firm Victoria Fails to Make Headway in Lano Carpets Acquisition Talks.

M2 EQUITYBITES-April 18, 2016-UK Floorcoverings Firm Victoria Fails to Make Headway in Lano Carpets Acquisition Talks

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18 April 2016 - UK-based floorcoverings company Victoria plc's (LSE: VCP) discussions with the shareholders of Belgian carpet manufacturer Lano Carpets NV regarding the potential acquisition of the business have ceased, the company said.

In March, Victoria announced that it was in talks to buy Lano, which designs and produces broadloom carpets, rugs, carpet tiles, and artificial grass.

The company was founded in 1970 and is based in Harelbeke, Belgium with a production site in Forceville, France.

Victoria said it remains focussed on its strategy of pursuing acquisition opportunities that will create shareholder wealth.

It added that discussions "are already underway" with suitable businesses both within the UK and overseas.

Victoria is a designer, manufacturer and distributor of floorcoverings.

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Publication:M2 EquityBites (EQB)
Geographic Code:4EUUK
Date:Apr 18, 2016
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