FLOORCOVERINGS group Victoria Plc has completed its acquisition of Australian underlay and hard wood flooring maker Dunlop.

The Kidderminster based manufacturer and distributor first announced the deal last December, but says the transaction is now complete, and has been funded through its existing cash and debt facilities.

Victoria agreed to pay vendor Pacific Brands Limited 34 million Australian dollars (£20 mill.) to buy the Sydney and Melbourne based company, which makes and distributes flooring underlay, branded wood and vinyl flooring products across Australia.

Chairman Geoff Wilding said the group wasn’t done with acquisitions yet. “The group continues to look for further earnings accretive acquisitions, particularly in Europe, whilst maintaining our core focus on wealth creation for shareholders,” he said in a statement.

RelatedVictoria pays £20 million for Australian flooring company

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