Tarkett has reached an agreement in principle with Bencis Capital Partners and minority investors to acquire 100% of Desso.
Headquartered in the Netherlands, Desso achieved approximately $253 million in sales last year, employs approximately 820 people and operates three plants in Europe. The manufacturer produces high-end carpet for commercial applications (offices, education, hospitality, marine and aviation segments) and is present in the residential market in Europe. The company also serves the sports market with artificial turf and a unique reinforced natural grass system (GrassMaster).
“The acquisition of Desso will enable Tarkett to accelerate its growth strategy by targeting the European market of added-value carpet for commercial and residential use, as well as innovative sports surfaces. This move will extend our product portfolio, offering our customers complementary solutions, as well as extensive design expertise,” commented Michel Giannuzzi, CEO of Tarkett.
“We are very excited to join Tarkett with whom we share the same vision and entrepreneurial values, as well as a strong commitment to sustainability, both applying the cradle-to-cradle principles at each step of the product’s life and supporting the development of the circular economy. Within the Tarkett group, we will be in a position to offer extended development opportunities to our customers and partners,” said Alexander Collot d’Escury, CEO of Desso.
Desso’s works council has been informed of the transaction and the consultation process is currently ongoing, as well as the filing procedures with the relevant competition authorities. The transaction is expected to be concluded at the end of this year.
For more information, visit tarkett.com.