With success, Villeroy & Boch has acquired every one of the Ideal Standard Group's operational businesses. The Villeroy & Boch Group will incorporate Ideal Standard as a distinct division after obtaining all required antitrust authority clearances. With the integration, Villeroy & Boch will become one of the biggest producers of bathroom products in Europe, employing almost 13,000 people and operating a worldwide production and distribution network. The business concept of Villeroy & Boch is superbly complemented by Ideal Standard. The Group's competitiveness will rise as a result of the two firms' complementary strengths in terms of geographical presence, sales tactics, and product and brand portfolios. Under CEO Gabi Schupp, the makeup of the Villeroy & Boch AG Management Board will not alter. Under Gabi Schupp's direction, Jan Peter Tewes will continue to oversee the Ideal Standard company. "By acquiring Ideal Standard, we are strengthening our global footprint, growing our core business, and methodically following our strategic growth path. We are confident that there will be a strong cultural fit between the two businesses. Together with our conventional brands, we are united by a commitment to excellence in both quality and service, a love of outstanding design, and an unwavering quest of innovation. Gabi Schupp, CEO of Villeroy & Boch AG, said, "We would like to welcome our new colleagues and we look forward to shaping our future together."
"The largest transaction of this kind in Villeroy & Boch's history is the acquisition of Ideal Standard. According to Villeroy & Boch AG Chairman of the Supervisory Board Andreas Schmid, "the integration will allow us to increase our resilience in a consistently challenging market environment, leverage synergies, and establish optimal foundations for future profitable growth."
"We are excited to collaborate with each other as a member of the Villeroy & Boch Group." Jan Peter Tewes, CEO of Ideal Standard International N.V., stated, "A stronger regional presence, our bundled expertise in private consumer and project business, and our excellently positioned fittings business are just a few examples of the vast potential we will realise with our customers, our partners, and our employees."
In the future, the combined firm will continue to use its well-known brands. Ideal Standard will function as a distinct division inside the business. The Villeroy & Boch Group's headquarters will still be in Mettlach, and Ideal Standard will continue to be run out of Brussels.
Source: Villeroy and Boch