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UK carpet maker Victoria in talks to buy a part of Belgium's Balta

By Reuters

-Flooring products maker Victoria Plc said on Monday it was in talks to buy a part of Belgium’s Balta Group NV, as the British firm looks to expand its business.

“The board can confirm that it is in discussions to potentially acquire a profitable, growing part of Balta’s group that it believes possesses good synergy opportunities with Victoria’s existing business,” the UK firm said in response to media reports that it was in talks with the Belgian company, which produces textile floor coverings.

Victoria added that it was not looking at buying the whole of Balta, which also makes carpets and rugs.

The largest carpet maker in the UK, Victoria also has operations in Australia among other countries.

The 126-year-old firm, which has seen strong growth in the wake of the COVID-19 pandemic as people increasingly worked from home and refurbished their residences, recently bought Turkish ceramic tile producer Graniser for 8.4 million euros.

Balta has around 4,000 employees, with its products manufactured in nine locations and sold to more than 130 countries.

The Belgian company, which has a market value of about 92 million euros ($104 million), did not immediately respond to a Reuters’ request for comment.

Shares of Victoria were 1.4% higher as of 1222 GMT, while Balta was up about 2%.

($1 = 0.89 euros)