Unilin Group announces takeover of vinyl activities of Polish manufacturer Lentex
Unilin Group announces takeover of vinyl activities of Polish manufacturer Lentex S.A.The takeover is part of Unilin Group’s strategic growth ambitions. The new acquisition enables its Unilin Flooring division, known among others for its Quick-Step, Pergo and Moduleo brands, to strengthen its position in Eastern Europe and further expand its vinyl floor offering. The listed company (LTX: WSE) is situated in Lubliniec, Poland, and its vinyl activities encompass some 110 staff. The takeover should be completed sometime during the third quarter.
Unilin Flooring, Unilin Group’s floor division, is a global leader in the supply of floor covering. The company enjoys a strong worldwide reputation thanks to its brands Quick-Step, Pergo and Moduleo and manufactures parquet, laminate and vinyl flooring as well as carpet tiles. Unilin Flooring boasts 14 production sites worldwide and a total workforce of 4,397.
Lentex is a household name on the vinyl flooring market in Central and Eastern Europe, with a product portfolio in both the commercial and residential markets. Its parent company Lentex S.A. also manufactures non-woven textiles for, among others, the automotive, clothing and construction industries. Non-woven will remain a stand-alone division and is not included in the takeover. All 110 employees of Lentex’ vinyl activities will join Unilin Group.
Strong position in Central and Eastern Europe
For more than a century, Lentex has been a proud manufacturer, resulting in a well-known brand with an established market position in Poland and beyond.
Ruben Desmet, President of Unilin Flooring, explains the reasoning behind the acquisition: “This takeover dovetails perfectly with our growth strategy to grow Unilin Flooring’s turnover by 60% by 2025. We are pleased to have found a partner in Lentex, a manufacturing firm with a long tradition, a strong reputation and a great deal of know-how. In addition to bolstering our position in Central and Eastern Europe, the takeover will also allow us to expand further and establish a customer base in North Africa and the Middle East.”
Broader portfolio and better service
Unilin Flooring currently has four production sites for vinyl floor covering. With this takeover, Unilin Flooring further strengthens its activities in both the commercial and industrial segments, with specialist floors for healthcare, schools, hotels and even the caravan and motorhome industry. In addition Lentex has a sizeable distribution centre, which Unilin Group is planning to expand. With this new regional logistics hub Unilin Group will be able to guarantee even faster and more flexible service.
Stefaan Debusschere,General Manager vinyl floors, confirms: “Eastern Europe is a dynamic growth market for sheet vinyl. With this takeover we are continuing our growth in this segment. Moreover, we'll be able to offer our customers in Central and Eastern Europe and even in continental Europe superior service as well as an even more comprehensive range. Just think of Jumbo flooring vinyl rolls and high-quality, wear-resistant commercial products."