Manufacturer Roca Group has sold its tile division to Mexican ceramic tile manufacturer Grupo Lamosa, to “strengthen its position in the bathroom space”.

The transaction, valued at $260 million includes three factories, two of which are in Brazil and one in Spain.

The three plants, which reached a total production of 23.4 million sqm of tile in 2020, export worldwide, with the United States the main market, where the tile division also has a commercial subsidiary, Brazil and Spain.

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With a history of more than 130 years in the construction material industry, Grupo Lamosa has sales of over $1billion and a presence in America.

CEO of Roca Group Albert Magrans said:”At Roca Group we are very pleased that our tile division has been acquired by Grupo Lamosa, a leading industrial company of great prestige within this field, its core business, with complete geographical complementarity and with promising future plans for this unit.”

Federico Toussaint, CEO and chairman of Grupo Lamosa, pointed out that “this transaction further enhances the strong presence of Grupo Lamosa in the American Continent, where it already operates in several countries, and allows its expansion into Europe.

“It also represents an important step in the company’s growth path, according to its strategic plan, to expand its geographical presence, diversify risks and continue to strengthen the position and leadership of Grupo Lamosa, which seeks further opportunities”.

Roca Group was advised in the sale by Alantra, Uría Menéndez, and KPMG’s transaction services team.

The bathroom manufacturer has recently been on an acquisition train, having acquired a majority stake in the Royo Group, enabling it to strengthen its footprint in Central and North America.

It has also recently acquired Sanit, a European supplier of pre-wall installation systems and bathroom assembly components, headquartered in Germany.

Roca Group closed the 2020 financial year with a turnover of €1.68 billion euros, 9.5% less than in 2019 due to the pandemic and the slowdown in the global economy.

Despite this, EBITDA increased to €306 million, up 21%, while consolidated net profit stood at €60 million, representing a decrease of 12%.

Grupo Lamosa reported revenues of $1.06 billion dollars (last twelve months at the end of June 2021), with a 14% growth compared to the previous year.

The purchase of Roca Group’s tile division enables Grupo Lamosa’s consolidated income to increase by approximately 20%, and the production capacity of the coatings business by 16%, reaching around 225 sqm per year.

With this investment, Lamosa claims to be among the world’s top three manufacturers of ceramic tile.