Ceramic floor tile producer Italcer Group is to add to its roster of brands by buying Terratinta.
Luca Migliorini, Terrantina founder has agreed to sell the group to Italcer and in return purchase a stake in the enlarged group. Migliorini founded the group in 2008.
The deal will see Italcer’s turnover approach €400m. By way of comparison, Victoria Group’s ceramic tile operations had sales of £257m in the first half of 2022.
The deal is expected to be finalised immediately after the summer, once the due diligence process and sale agreement have been completed. The acquisition is the eighth, in a period of six years, by the group, which has Mindful Capital Partners, Miura and Capital Dynamics as its partners and is headed by Graziano Verdi, founder.
The sale will see the Terratinta Ceramiche, Ceramica Magica, Sartoria and Micro brands added to Italcer’s that include Fondovalle, La Fabbrica, AVA, Elios Ceramica, Devon&Devon, Ceramica Rondine, Cedir, Bottega and Equipe Cerámicas.
Italcer is seeking to create a group of companies, mainly Italian, that have sufficient scale to generate significant synergies in an industry which, although highly competitive at global level, was until only a few years ago still characterised by strong fragmentation.
