Villeroy & Boch AG: Villeroy & Boch acquires Ideal Standard Group

EQS-Ad-hoc: Villeroy & Boch AG / Key word(s): Mergers & Acquisitions Villeroy & Boch AG: Villeroy & Boch acquires Ideal Standard Group 18-Sep-2023 / 07:59 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Villeroy & Boch acquires Ideal Standard Group Mettlach, 18 September 2023. Villeroy & Boch has today signed binding agreements to acquire all of the operating companies in the Ideal Standard Group. The Ideal Standard shares are being sold by funds under the management of Anchorage Capital Group and CVC Credit. All group operating companies are covered by the transaction, including business activities in the Middle East and Africa previously operated by the Ideal Standard Group in a joint venture with Roots Group Arabia. Shareholder loans amounting to no more than approximately € 93 million will be carried forward, which significantly reduces Ideal Standard Group’s gearing. Ideal Standard is a multinational supplier of bathroom products. The company employs more than 7000 people worldwide and operates 11 production sites in Europe and the Middle East. In 2022, Ideal Standard registered sales of around € 737.2 million, with adjusted EBITDA of around € 73.7 million. The two companies are a perfect fit given their regional presence, sales strategies and product and brand portfolios, laying the foundations for a stronger competitive position and additional growth. In an industry that has global growth potential, the integrated company will join Europe’s largest manufacturers of bathroom products in terms of sales. The total acquisition price is based on a company valuation of approximately € 600 million. Villeroy & Boch is financing the transaction from its own liquid funds and with borrowing of € 250 million. Completion of the transaction is subject to the usual conditions and regulatory checks, in particular merger approval, and redemption of the € 325,000,000 bond issued by the seller Ideal Standard International S.A., Luxembourg. The transaction is expected to be concluded in early 2024. Investor relations contact Susanne Reiter Head of Corporate Treasury and Investor Relations Tel.: [phone]  Email: [e-mail] Media contact Anabell Westrich Corporate Communications Tel.: [phone]  Email: [e-mail]   End of Inside Information 18-Sep-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

Language:	English
Company:	Villeroy & Boch AG
	Saaruferstraße 1-3
	66693 Mettlach
	Germany
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.villeroy-boch.de
ISIN:	DE0007657231, DE0007657207
WKN:	765723
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1727771

End of Announcement	EQS News Service

1727771  18-Sep-2023 CET/CEST