Historic firm Kidderminster Carpets is set to take over a rival in a £16 million deal - the first major move by its new board.
The carpet-maker is planning to take over Yorkshire rival Globesign and its wholly owned subsidiary Westex Carpets.
Geoff Wilding, executive chairman of Victoria, who was part of a consortium which took over Victoria in a bitter battle, said Westex was an established name.
He said: "Westex is one of the finest carpet manufacturers in the UK and I am very pleased Victoria has been able to reach an agreement with the directors, all of whom will be staying with the business for a minimum period of five years.
"As a result there will not be any changes to the existing sales, production and administrative operations at Westex following the Acquisition. Westex will continue to operate its own brands within the Victoria PLC group, maintaining the same level of high quality service for its customers."
Victoria recently reported a return to half-year profit.
Mr Wilding became chairman after a consortium led by Alexander Anton, a descendant of the firm's founder, oversaw a board reshuffle.