Roca Group Completed The Divestment Of Its Spanish Tile Business
Bathroom Business School
On August 31, Grupo Lamosa (Mexico) completed the acquisition of the tile business of Grupo Roca for approximately US$260 million.
The deal between Grupo Lamosa and Grupo Roca was approved by the shareholders’ meeting and will be financed by a $200 million bank loan for debt. This involves seven banks with an average duration of 4.3 years and a maturity date of five years. The remaining portion of the amount will be financed by the La Mossa Group’s own funds.
It is worth noting that this business acquisition also includes the INCEPA, USCT and GALA brands of the Roca Group. According to INCEPA’s official website, INCEPA was founded in 1952 by the Swiss brand Laufen in Campo Largo, Paraná. It started with tiles and in 1976 it began to produce bathroom products. In 1999, INCEPA was acquired by the Roca Group and integrated into the Roca Brasil brand.
As previously reported by foreign media, the transaction involved the transfer of two factories of Roca Group located in Campo Largo and São Mateus do Sul, Brazil, as well as the Spanish subsidiary Cerámicas Belcaire, located in Castellón.
Following the completion of the acquisition, the Roca Group’s tile business in Spain was divested. According to Grupo Lamosa, in the last 12 months, as of June this year, the Roca Group’s tile business totaled $44 million. the Roca Group ended 2020 with revenues of 1,684 million euros, down 9.5% from 2019. It had a net profit of 60 million, down 12% from the previous year.