Kitchens and ceramics company Villeroy & Boch has officially completed its acquisition of Ideal Standard.
Sanitaryware brand Ideal Standard will now be integrated as a separate part of Villeroy & Boch Group, following the acquisition’s approval from antitrust authorities.
According to Villeroy & Boch, the acquisition means it is now one of Europe’s largest manufacturers of bathroom products, with over 13,000 employees and a global production and distribution network.
The company says that Villeroy & Boch’s management board will remain unchanged. Ideal Standard’s chief executive, Jan Peter Tewes, will remain in his position, but will now report directly to Villeroy & Boch’s chief executive, Gabi Schupp.
Villeroy & Boch will still be headquartered in Mettlach, Germany, with Ideal Standard continuing to be managed from Brussels.
Tewes said the company is looking forward to its future as part of Villeroy & Boch. “A stronger regional presence, our bundled expertise in private consumer and project business, and our excellently positioned fittings business are just some examples of the vast potential we will realise with our customers, our partners and our employees,” he said.
Villeroy & Boch CEO Schupp believes that the two companies are a great cultural fit. She explained: “In addition to our traditional brands, we share common values, including a dedication to quality and service, an appreciation for exemplary design and the constant pursuit of innovation. We would like to welcome our new colleagues and we look forward to shaping our future together.
“With the acquisition of Ideal Standard, we are systematically pursuing our strategic growth path, expanding our core business and enhancing our international presence.”
Schupp has only recently joined Villeroy & Boch’s leadership team, having started in her new role in January this year. She is the first female CEO in the company’s 275-year history.
Speaking exclusively to kbbreview, Villeroy & Boch’s UK marketing manager, Fabrizia Elena D’Autilia, described how Schupp’s appointment was a “brilliant” step forward for the company. D’Autilia was pleased with the news, saying that she felt the appointment was a “brilliant” choice.
She was pleased that female CEO’s are becoming a growing trend in the industry, as well as the wider world. D’Autilia also touched upon the paradoxical nature of wanting to celebrate women achieving these significant career roles, while also accepting that there should be a sense of normalcy to the appointment too.
She said: “To be honest with you, it shouldn’t mesmerise us, or have to be seen as a huge achievement – it should be normal. But we are honest, and we know that in this world, it’s an achievement.
“We’re very happy to have her. She’s a strong woman. She knows the company, so that’s a good thing. And when you know the company, you know which steps to take to reach our goals.”