ABU DHABI, UAE: RAK Ceramics introduced the signing of a Share Purchase Agreement for the acquisition of 100% stake in KLUDI Group.
KLUDI Group includes KLUDI GmbH & Co KG, Scheffer Beteiligungs GmbH, KLUDI Armaturen GmbH & Co KG, KLUDI Armaturen GmbH, Austria, KLUDI Management GmbH and KLUDi RAK, UAE.
KLUDI Group is a longtime main German-based firm engaged in manufacturing high-quality kitchen and bathroom taps and showering systems.
The company, nearly 100 years old now, has a producing footprint throughout Germany, Austria, Hungary and the UAE, which incorporates cutting-edge and innovative German-engineering technologies.
KLUDI Group’s total revenues quantity round EUR 120 million, with gross sales throughout Europe, Asia, and the Middle East.
The transaction is conditional upon regulatory approval, and each events are working closely to finalise the transaction which is scheduled to be accomplished by May 31, 2022.
www.rakceramics.com