Flooring products maker Victoria reported it would buy the rugs division along with the UK polypropylene carpet and non-woven carpet businesses of Belgium's Balta Group NV for $155.50 million. Completion of the acquisition is subject to complete in April 2022.
Victoria, the largest carpet maker in the United Kingdom, said it would fund the deal through existing cash resources and additional preferred equity from the investment and acquisition arm of Koch Industries, its third-biggest shareholder.