– Establishes Position as Arch Premium, Multi-Material Countertop Aggregation –
Caesarstone Ltd. (NASDAQ: CSTE), a arch developer and architect of high-quality engineered surfaces, today appear that it has entered into a absolute acceding to access a majority pale in Lioli Ceramica Pvt. Ltd (“Lioli”), an India-based ambassador of cutting-edge ceramics countertop slabs, operating avant-garde and technologically avant-garde accomplishment accessories in Asia, with anniversary acquirement of about $18 million.
Porcelain represents one of the fastest growing categories in the all-around countertop bazaar and anon complements Caesarstone’s accustomed attendance in engineered quartz surfaces. The accretion provides an adorable access point for Caesarstone to advantage its able brand, architecture capabilities, sales force and all-around administration arrangement to enhance chump assurance about the apple with a multi-material alms of exceptional countertops. Located in the centermost of India’s ceramics hub, Lioli’s high-quality, low-cost, vertically-integrated operation will accumulation ceramics countertop offerings to Caesarstone, which will be marketed in all regions alongside quartz beneath one arch all-around Caesarstone® brand.
Yuval Dagim, Chief Executive Officer commented, “This accretion is a above footfall in our efforts to beforehand our all-around beforehand dispatch plan and to apprehend our ambition of acceptable a arch premium, multi-material amateur in the all-around countertop industry. The accretion will accredit us to accept a cogent attendance in the all-around ceramics category, one of the fast-growing categories in the countertop market, alongside our acclaimed quartz portfolio. Lioli’s advanced ceramics operations accumulated with Caesarstone’s awful admired cast and accustomed all-around arrangement will strengthen our different amount hypothesis and our adeptness to beforehand a multi-material beforehand strategy. In this way, we can enhance the acquaintance of our consumers and business partners, while acumen our mission to be the aboriginal cast of best for countertops about the world.”
Under the acceding of the transaction, Caesarstone has entered into a absolute acceding to access a majority pale in Lioli for a banknote advance of about $12 million, apery an action amount of about $34 million, including the acceptance of debt and added application of up to about $10 actor aloft the accomplishment of assertive milestones. The transaction is accepted to abutting in 2020, accountable to accepted closing conditions, and is accepted to accept a favorable appulse to balance above 2020.
Caesarstone is a abstraction and lifestyle-driven aggregation with a customer-centered access to designing, developing, and bearing high-end engineered surfaces acclimated in residential and bartering buildings. Our articles action above artful address and able functionality through a audible array of colors, styles, textures, and finishes acclimated in countertops, vanities, bank cladding, floors, and added autogenous surfaces. Marked by their inherent constancy characteristics such as non-porousness, blemish and stain resistance, and durability, the company’s artefact awning offers a awful adorable another to added surfaces. Able charge to account has fostered growing chump adherence in over 50 countries area the bristles audible Caesarstone artefact collections are available: Classico, Supernatural, Metropolitan, Concetto and Outdoor. For added advice amuse appointment our website: www.caesarstone.com.
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