LVT supplier Karndean has boosted its presence in Europe through acquisition.
The company has bought fellow LVT manufacturer mFLOR for an undisclosed sum.
The Dutch company will operate as a wholly owned subsidiary of Karndean, sitting alongside its existing sister company Designflooring International.
One of the three shareholders of mFLOR, Eef Van Leusden will remain as general manager running the business as he has for the past 25 years. ‘It has been a long road, and for us, the shareholders, it has always been very important that the continuity of the company, our own people and customers is guaranteed. With this acquisition, I believe that, in collaboration with Paul and Karndean we have achieved this,’ he says.
‘This is exciting news as we welcome mFLOR to the Karndean family. This is a strategic acquisition of a strong brand in a territory we have wanted to increase our reach in for many years. mFLOR are highly respected and operate in a segment of the market we haven’t historically focused. I am very much looking forward to working with Eef and the rest of the mFLOR team to continue to grow the brand,’ says Paul Barratt, Karndean md.
