Tarkett, a global leader in flooring and sports surfaces solutions, has reached an agreement in principle with Bencis Capital Partners and minority investors to acquire 100% of Desso.
Desso, a well-established brand, produces high-end and innovative carpet flooring, mainly for commercial applications (offices, education, hospitality, marine and aviation segments), and is present in consumer carpets in Europe. The company also serves the sports market with artificial turf and a unique reinforced natural grass system (GrassMaster®).
Headquartered in the Netherlands, Desso achieved 202 million euros of sales in 2013, employs approximately 820 people and operates three plants in Europe. With the support of Bencis, Desso has demonstrated a strong and improving performance over the past few years.
“The acquisition of Desso will enable Tarkett to accelerate its profitable growth strategy by targeting the European market of added value carpet for commercial and residential use, as well as innovative sports surfaces. This move will extend our product portfolio, offering our customers complementary and cutting-edge solutions, as well as extensive design expertise” explains Michel Giannuzzi, CEO of Tarkett. “Following the successful acquisition of Tandus in the United States, Desso will allow Tarkett to provide commercial carpet solutions to all customers worldwide.”
“We are very excited to join Tarkett with whom we share the same vision and entrepreneurial values, as well as a strong commitment to sustainability, both applying the Cradle to Cradle*principles at each step of the product’s life and supporting the development of the circular economy.
Within the Tarkett group, we will be in a position to offer extended development opportunities to our customers and partners, with products that aim to improve people’s wellbeing and ultimately their performance.” comments Alexander Collot d’Escury, CEO of Desso.
Desso’s works council has been informed of the transaction and the consultation process is currently ongoing, as well as the filing procedures with the relevant competition authorities. The transaction is expected to be concluded at the end of this year.