SAN DIEGO, Calif., June 23, 2021 /PRNewswire/ — CALI, the omni-channel flooring and building products company, is now a wholly owned subsidiary of the global flooring company, Victoria PLC. Established in 1895 and based in Kidderminster, England, Victoria is a publicly traded company (LSE: VCP) with approximately $1 billion in annual sales and employs approximately 3,800 people across 25 sites in the UK, Europe, and Australia. The company specializes in the design, manufacturing, and distribution of innovative floor covering products including carpeting, ceramics, artificial turf, and luxury vinyl plank.
The deal will lead to the expansion of CALI’s product offerings with access to European and Australian substrates, fabrications, partnerships with sister companies, and potentially new markets. CALI will also gain the financial support of the public market and the strategic insights and operational infrastructure of a global flooring powerhouse.
In integrating CALI into their operations, Victoria will expand its U.S. distribution where it currently sells $33 million of flooring each year. It also allows the UK firm to tap into CALI’s successful direct-sales channel while broadening existing B2B and commercial partnerships.
CALI will continue to operate autonomously and will remain ultimately responsible for its topline and bottom-line success. CALI’s core commitment to Great People, Products and Partnerships will remain at the heart of all that it does. The company’s dedication to sustainability and eco-friendly materials, manufacturing, and solutions will continue to be its mission.
Speaking on the acquisition, CALI CEO, Renee Thomas Jacobs, says, «CALI has experienced phenomenal growth and strong omni-channel market penetration over the past two years, and we are well-poised to take our success to the next level. Being a part of the Victoria PLC family will provide us additional infrastructure and support to accelerate product innovation and new market growth. Personally, I simply cannot wait to write this next chapter of CALI success.»
CALI President, Doug Jackson, continues that sentiment, saying, «Today marks the next chapter for CALI, we have found a great partner and a permanent home within the Victoria family. I could not be happier for the business and the CALI team. We are positioned to reach new heights, develop new product families, and continue to focus on people, products, and relationships!»
Requests for further information can be sent to firstname.lastname@example.org.
Cali’s mission is to bring sustainable beauty, diversity, innovation, and vibrancy to every CALI home with products of the highest quality, longevity, and value that are easy-to-buy and easy-to-install. We believe everyday choices can make a big impact.
Based in San Diego, California, the omni-channel home improvement platform develops and supplies flooring, decking, and other high-quality products that offer beautiful, eco-minded alternatives to traditional materials. Cali provides an ever-expanding range of collections including bamboo, European oak, eucalyptus, cork, luxury vinyl, and engineered flooring, composite decking, fencing, and plywood — all while delivering the industry’s best customer experience.
Founded in 2004 as Cali Bamboo and recognized as an Inc. 5000 Fastest Growing Company for 12 consecutive years, Cali models how individuals, businesses, and communities can implement modern design along with structural strength and environmental integrity. CaliFloors.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 Group, which is headquartered in Kidderminster, 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 and Australia and employs approximately 3,800 people across more than 25 sites. Victoria is the UK’s largest carpet manufacturer and the second largest in Australia, as well as the largest manufacturer of underlay in both regions.
The Group’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. www.victoriaplc.com
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SOURCE Cali Bamboo