VILLEROY & BOCH set to become one of Europe's largest Bathroom product manufacturers

EUROPE: Villeroy & Boch claims that with the combination, it will grow to become one of Europe's biggest producers of bathroom products, employing about 13,000 people and having a vast global production and distribution network. It states that Ideal Standard "excellently complements its business model." The Group's competitiveness will rise as a result of the two businesses' complementary strengths in terms of geographical presence, sales tactics, and product and brand portfolios, according to Villeroy & Boch.

Under CEO Gabi Schupp, the membership of Villeroy & Boch AG's Management Board will not alter. Jan Peter Tewes will continue to oversee the Ideal Standard business and report to Gabi Schupp. "We are methodically pursuing our strategic growth path, expanding our core business, and enhancing our international presence with the acquisition of Ideal Standard," the latter stated. We are confident that there will be a strong cultural fit between the two businesses. Apart from our conventional names, we have similar principles such as a commitment to excellence in quality and service, a recognition of exceptional design, and an unceasing quest for novelty. We extend a warm welcome to our new colleagues and look forward to working with you to shape our shared future.

The Chairman of the Supervisory Board of Villeroy & Boch AG, Andreas Schmid, continued, "The acquisition of Ideal Standard represents the biggest transaction of this kind in Villeroy & Boch's history." "Through integration, we will be able to take advantage of synergies, strengthen our resilience in a constantly demanding market environment, and lay the best possible groundwork for future profitable growth."

"We are excited to collaborate as a member of the Villeroy & Boch Group," Ideal Standard International NV CEO Jan Peter Tewes stated. "A few examples of the enormous potential we will exploit with our customers, partners, and employees are a greater regional presence, our integrated expertise in private consumer and project business, and our ideally positioned fittings business.”

In the future, the combined firm will continue to use its well-known brands. Ideal Standard will function as a distinct division inside the business. The Villeroy & Boch Group's headquarters will still be in Mettlach, and Ideal Standard will continue to be run out of Brussels.

Source: V&B