Brown Rudnick Advises Victoria plc on Disposal of Graniser Ceramics

International law firm Brown Rudnick has advised long standing client Victoria plc, a leading designer, manufacturer and distributor of innovative flooring trading on the AIM market of the London Stock Exchange, on the sale of Graniser Ceramics, a manufacturer and exporter of ceramic tiles, for a total consideration €36.8 million (comprising cash and debt).

Based in Turkey, Graniser Ceramics was sold to Hasan Akgün, a member of the Akgün family who established the Akgün Group in 1925, which operates in construction materials, automotive, insurance, logistics and oil sectors across Turkey and internationally. The deal also included the entry into a long-term supply agreement for the supply of Victoria Group-specific ceramic tiles at manufactured-cost pricing, which is expected to positively impact Victoria's earnings.

The Brown Rudnick deal team was led by partner Lena Hodge, and included partners Tracy Fisher and Eleni Zodiates, and associates Nick Davies and Thea Dodwell.

About Victoria PLC

Established in 1895 and listed since 1963 and on AIM since 2013, Victoria plc is an international manufacturer and distributor of innovative flooring products. The Group, which is headquartered in Kidderminster, UK, designs, manufactures and distributes a range of carpet, flooring underlay, ceramic tiles, LVT (luxury vinyl tile), artificial grass and flooring accessories.

Victoria has operations in the UK, Spain, Italy, Belgium, the Netherlands and Australia and employs approximately 3,400 people across more than 20 sites. Victoria is the UK's largest carpet manufacturer and the second largest in Australia, as well as the largest manufacturer of underlay in both regions.

The Group's strategy is designed to create value for its shareholders and is focused on consistently increasing earnings and cash flow per share via acquisitions and sustainable organic growth.