The purchase was jointly funded by the three Kleen-Tex European companies and marks a continued programme of European expansion through acquisition – just three months ago Kleen-Tex acquired the Coir Company in the UK.
Under the terms of this latest deal, Golden Star will exclude itself from the rubber mat sector in Europe for five years. However, it can continue to market its mops and vinyl mats to its existing European customers.
Commenting, Richard Millward, managing director of Kleen-Tex Holdings, pointed to the rapid progress that Kleen-Tex was making and said it would continue the strategy of growing through acquisitions and alliances.
He added that organic growth continues to be healthy “as befits our long history of innovation and technical excellence in the rubber mat business worldwide”.
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