REG - Victoria PLC - Sale and Leaseback of Belgian Distribution Centre

VictoriaAnnouncement

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RNS Number : 4266Z  Victoria PLC  07 April 2026

 

 

Victoria PLC

('Victoria' or the 'Company')

 

€34.4 million Sale and Leaseback of Belgian Distribution Centre

 

 

Victoria PLC (LSE: VCP), the international designer, manufacturer and
distributor of innovative flooring, is pleased to announce that it has entered
into a binding agreement for the sale and lease back of its Belgian
distribution centre to Avantage Property Holding BV, a fund managed by Alirec.

 

The distribution centre will remain the key European distribution hub for
Balta Rugs following the relocation of the majority of that company's
manufacturing to Turkey.

 

The gross consideration payable to the Company in cash at completion is
expected to be EUR34.4 million, in line with the Company's expectations.
Completion is expected within 90 days and is subject to customary conditions.
The consideration compares to a net book value of the EUR5.6m as at 31 January
2026 and existing tax losses will be utilised to mitigate capital gains tax.

 

The net cash proceeds will initially be retained on the Company balance sheet.
Alongside two additional surplus property disposals, the proceeds are expected
to fully fund the exceptional costs and capital expenditure associated with
the transfer of manufacturing to Turkey.

 

Geoff Wilding, Executive Chairman of Victoria, commented: "This agreement
secures continued use of an important site while unlocking capital to mitigate
the costs associated with expanding production capacity at Balta's Turkish
plant and relocating the majority of its rug manufacturing to that site. This
major project is expected to be completed and begin providing benefits during
the current financial year."

 

 

For more information contact:

 Victoria PLC                                                  www.victoriaplc.com/investors-welcome

                                                             (http://www.victoriaplc.com/investors-welcome)
 Geoff Wilding, Executive Chairman

 Alec Pratt, Chief Financial Officer                           Via Edelman Smithfield PR
 Singer Capital Markets (Nominated Adviser and Joint Broker)     +44 (0)20 7496 3095

 Rick Thompson, Phil Davies, James Fischer

 Berenberg (Joint Broker)                                      +44 (0)20 3207 7800

 Ben Wright, Harry Nicholas, Tom Ballard

    Edelman Smithfield (Investor Relations)                    +44 (0)7970 174 353

    Alex Simmons

+44 (0)7970 174 353

About Victoria PLC (www.victoriaplc.com (http://www.victoriaplc.com) )

 

Established in 1895 and listed since 1963 and on AIM since 2013
(VCP.L), Victoria PLC, is an international manufacturer and distributor of
innovative flooring products. The Company, which is headquartered
in Worcester, UK, designs, manufactures and distributes a range of carpet,
flooring underlay, ceramic tiles, LVT (luxury vinyl tile), artificial grass
and flooring accessories.

 

Victoria has operations in the UK, Spain, Italy, Belgium, the
Netherlands, Germany, Turkey, the USA, and Australia and employs more
than 5,000 people across more than 30 sites. Victoria is Europe's largest
carpet manufacturer and the second largest in Australia, as well as the
largest manufacturer of underlay in both regions.

 

The Company's strategy is designed to create value for its shareholders and is
focused on consistently increasing earnings and cash flow per share via
acquisitions and sustainable organic growth.

 

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