Takett, a flooring and sports surfacing company that is 50% owned by KKR, has agreed to acquire Brazilian flooring company Fademac from Etex Group for an undisclosed amount.
Tarkett, world leader in innovative and sustainable flooring and sports surfacing, has reached an agreement with the Etex Group on the sale of Fademac, an Etex Group affiliate. With a turnover of approximately €28m, Fademac, the leading resilient flooring provider in Brazil, will become an active part of Tarkett’s strategy to develop the Group’s commercial and residential activities in Brazil and South America.
The acquisition strengthens Tarkett’s international presence with an industrial base near Sao Paulo and a distribution network across Brazil. Fademac has a production facility manufacturing over 4million m2 of vinyl flooring including VCT and heterogeneous used in healthcare, education, office, retail and transport projects throughout South America. Fademac, which has 219 employees in Brazil, has been a distributor for Tarkett for the past five years, selling Tarkett commercial products manufactured in Europe.
Michel Giannuzzi, Tarkett Chief Executive Officer commented, “The acquisition of Fademac, Brazil’s leading resilient provider, strengthens Tarkett’s growth strategy in this region with a local manufacturing presence and distribution to South America.”
Philippe Coens, Etex Chief Executive Officer commented, “Resilient floorings is no longer part of Etex’s core activities. We are happy that Fademac, which we developed to become market leader in Brazil, can now join a group with a global leading position in this market. We would like to thank Fademac’s management and employees for their valuable contribution and wish them a very bright future in this new environment.”
With 2007 revenues of €2.1 billion, Tarkett is a leading provider of innovative and sustainable flooring and sports surfaces. Some 9000 employees serve Tarkett’s customers in 100 countries and from 28 production sites. Since 2007, Tarkett is owned by the Deconinck family (50%) and private equity funds affiliated with KKR (50%). Tarkett is one of the official partners of the French National Sports Olympic Committee (CNOSF) for the Olympic Games.
Etex Group is an industrial holding company and a specialist in manufacturing and marketing building materials. The Group, with its head office in Brussels, has 90 subsidiaries across 42 countries and employs more than 14,000 people.