Villeroy & Boch has completed its acquisition of all operating companies of the Ideal Standard Group, with the latter to be integrated as a separate part of the Villeroy & Boch Group now that all necessary approvals by anti-trust authorities have been received.
Via the integration Villeroy & Boch says it will become one of Europe’s largest manufacturers of bathroom products, with around 13,000 staff and a global production and distribution network. It says Ideal Standard ‘complements its business model excellently’. The complementary strengths of the two companies in terms of regional presence, sales strategies and product and brand portfolios will increase the Group’s competitiveness, Villeroy & Boch says.
The composition of Villeroy & Boch AG’s Management Board will remain unchanged under CEO, Gabi Schupp (pictured), with Jan Peter Tewes continuing to manage the Ideal Standard business, reporting to Gabi Schupp. The latter said: “With the acquisition of Ideal Standard, we are systematically pursuing our strategic growth path, expanding our core business, and enhancing our international presence. We firmly believe the two companies will also be a good cultural fit. In addition to our traditional brands, we share common values – including a dedication to quality and service, an appreciation for exemplary design, and the constant pursuit of innovation. We would like to welcome our new colleagues, and we look forward to shaping our future together.”
“The acquisition of Ideal Standard represents the biggest transaction of this kind in Villeroy & Boch’s history,” added Andreas Schmid, Chairman of the Supervisory Board of Villeroy & Boch AG. “The integration will enable us to increase our resilience in a consistently challenging market environment, leverage synergies, and establish optimal foundations for future profitable growth,”
“We are looking forward to working together as part of the Villeroy & Boch Group,” said Jan Peter Tewes, CEO of Ideal Standard International NV. “A stronger regional presence, our bundled expertise in private consumer and project business, and our excellently positioned fittings business, are just some examples of the vast potential we will realise with our customers, partners, and employees.”
The joint company will retain its established brands in future. Ideal Standard will be integrated into the organisation as a separate arm. Mettlach will remain the headquarters of the Villeroy & Boch Group, while Ideal Standard will continue to be managed from Brussels.