German ceramics manufacturer Villeroy & Boch has confirmed rumours that it is considering an acquisition of the Ideal Standard group.
In a statement issued today, the firm said that it had decided to go public with the plans – which it stressed were still in early phase of development – following media speculation about the possibility of an acquisition.
‘In reaction to media speculation, the Villeroy & Boch AG states that it is currently considering an acquisition of the Ideal Standard group,’ the statement said.
‘However, this evaluation is still at an early stage, and the company’s corporate bodies have not taken any binding decisions on whether or not to make the acquisition nor on any economic parameters.
It is therefore also possible that the Villeroy & Boch AG will not further pursue the project or that an acquisition be effected for any other reasons.’
Ideal Standard International, which is headquartered in Belgium, has not yet issued any comment on the plans. The group has invested in more than 150 million euros in its Bulgarian-based bathroom sanitaryware division, Ideal Standard-Vidima, since 1992.