Villeroy & Boch announces acquisition of Ideal Standard
Villeroy & Boch has successfully completed its acquisition of all operating companies of the Ideal Standard Group.
Ideal Standard will be integrated as a separate part of the Villeroy & Boch Group now that all necessary approvals by antitrust authorities have been received.
Through the integration, Villeroy & Boch will join the ranks of Europe’s largest manufacturers of bathroom products, with around 13,000 employees and a global production and distribution network. The complementary strengths of the two companies through regional presence, sales strategies and product and brand portfolios will work to increase the group’s competitiveness.
The joint company will retain its established brands in future, with Ideal Standard integrated into the organisation as a separate arm. Mettlach will remain the headquarters of the Villeroy & Boch Group, while Ideal Standard will continue to be managed from Brussels.
The composition of Villeroy & Boch AG’s Management Board will remain unchanged under CEO Gabi Schupp, while Jan Peter Tewes will continue to manage the Ideal Standard business, reporting to Schupp.
“With the acquisition of Ideal Standard, we are systematically pursuing our strategic growth path, expanding our core business and enhancing our international presence,” says Schupp. “We firmly believe that the two companies will also be a good cultural fit. In addition to our traditional brands, we share common values, including a dedication to quality and service, an appreciation for exemplary design and the constant pursuit of innovation. We would like to welcome our new colleagues and we look forward to shaping our future together.”
Andreas Schmid, Chairman of the Supervisory Board of Villeroy & Boch, adds: “The acquisition of Ideal Standard represents the biggest transaction of this kind in Villeroy & Boch’s history. The integration will enable us to increase our resilience in a consistently challenging market environment, leverage synergies and establish optimal foundations for future profitable growth.”
“We are looking forward to working together as part of the Villeroy & Boch Group,” concludes Jan Peter Tewes, CEO of Ideal Standard International. “A stronger regional presence, our bundled expertise in private consumer and project business, and our excellently positioned fittings business are just some examples of the vast potential we will realise with our customers, our partners and our employees.”
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