- Published on Tuesday, 06 August 2019 08:00
ROY Ceramics SE buys all shares in Klingenberg Dekoramik GmbH.
ROY Ceramics SE (WKN RYSE88, ISIN DE000RYSE888) concluded an agreement on July 16, 2019 for the purchase all shares of Klingenberg Dekoramik GmbH from Gruppo Ceramiche Ricchetti SpA. Klingenberg Dekoramik GmbH is one of the leading German manufacturers of unglazed ceramic floor tiles with a focus on industrial tiles. Klingenberg Dekoramik GmbH currently serves the domestic German market with a majority of more than 70 % of the market with the support of wholesalers and installation companies, as well as object processing for architects, planners and large customers. A part of approx. 30% is currently accounted for by export sales, with a focus on the USA and Australia.
Klingenberg Dekoramik GmbH generated annual sales of approx. 12.5 million euros in 2018. The purchase price of one euro is symbolic and the parties have agreed not to disclose the main terms of the purchase. ROY plans to provide liquidity of approximately EUR 1.7 million as working capital and to repay liabilities. ROY Ceramics SE intends to cooperate with Gruppo Ceramiche Ricchetti SpA in the future.
ROY Ceramics SE intends to acquire Klingenberg Dekoramik GmbH as an essential part of its strategy to reactivate its activities in the ceramics division.