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[July 2009]
Ideal Standard International Acquires Subsidiaries of Qualceram Shires plc
Ideal Standard International (Brussels, Belgium), a leading provider of innovative bathroom solutions, has purchased four subsidiaries of Ireland-based Qualceram Shires plc – Shires Ireland Ltd, Quay Bathrooms Ltd, Quality Ceramics (Arklow) Ltd and Quality Ceramics (Sales) Ltd.
As part of the agreement, Ideal Standard International has acquired the intellectual property rights of Qualceram Shires’ brands, including Qualceram, Shires, Selecta and Trent Bathrooms.
Qualceram and Shires are leading bathroom brands in Ireland, offering a broad range of products and enjoying strong awareness in the market. The Shires and Qualceram brands are also sold in the UK.
Ideal Standard International had proposed to acquire the subsidiaries during the Examinership process and the sale was completed after the High Court in Ireland approved the Examiner's scheme. Details of the sale price were not disclosed.
Qualceram and Shires products are sold through many channels and are well represented in showrooms, social housing and new private housing. This acquisition will extend Ideal Standard International’s market opportunities and allow further development of its business in Ireland and the UK.
Marc Valentiny, CEO at Ideal Standard International said: “The acquisition of Qualceram and Shires is a reflection of Ideal Standard International’s strategy to invest in our core markets and strengthen our business for the future. We believe this offers an attractive opportunity to further enhance our market positions in Ireland and the UK”.
ENDS