Carpet designer and manufacturer Victoria has acquired Ezi Floor in a £13 million deal.
Ezi Floor is based in West Yorkshire and makes a range of underlays for the commercial and domestic markets, selling to wholesalers, retail groups and independent stores throughout the UK.
Listed Victoria has paid an initial £6.5 million for the firm with a deferred payment of £6.5 million based on meeting certain financial targets.
Geoff Wilding, chairman of the Worcestershire-based group, said: "We are delighted to announce the acquisition of Ezi Floor.
"It is an efficient operation with very focussed management that will stay with the business and which is expected to make a positive contribution to Victoria's profits.
"The business is highly regarded within the industry, fits very well with our growth strategy, and delivers immediately accretive earnings.
"We believe underlay to be a real opportunity and Victoria is already actively looking at other opportunities in the underlay sector.
"Twelve months ago, Victoria acquired underlay manufacturer Interfloor.
"Since then, cross-selling opportunities - almost all consumer carpet purchases require underlay - and purchasing improvements as a result of the group's scale have successfully and significantly improved the earnings of that business.
"The integration of our previous acquisitions has been completed and Victoria is already benefiting from our strategy of achieving scale through acquisitions and we look forward to integrating Ezi Floor and developing the business as part of Victoria."
The enlarged Victoria group now has approximately 1,700 employees and operates from ten sites in the UK and three in Australia.
