Victoria plc (AIM:VCP) agreed to acquire Rugs & UK Carpet Divisions of Balta Group NV from Balta Group NV (ENXTBR:BALTA) for £117 million on November 29, 2021. The consideration can be adjusted depending on the working capital movements and cash generation of the Divisions up to completion. In addition, the Divisions have approximately £48 million) of debt (excluding IFRS 16 leases), which is expected to remain in place following completion. The consideration will be funded entirely from the Group's cash balances along with additional preferred equity to be provided by KED, a substantial shareholder in Victoria. Completion of the Acquisition is subject to the conclusion of the carve-out of the Divisions from the rest of the Balta Group and is expected in April 2022. The Acquisition will be immediately earnings-accretive and is a continued step in Victoria's strategy of growing its business with earnings-enhancing acquisitions, and then using available synergies to drive further increases in margin and revenue. Rick Thompson, Phil Davies and Alex Bond of Singer Capital Markets Advisory LLP acting as an advisor to Victoria plc. Berenberg and Peel Hunt acting as a joint broker in the transaction. Moelis & Company acted ad financial advisor to Balta NV.