15 July 2009

Ideal Standard International acquires subsidiaries of Qualceram Shires plc

Ideal Standard swoops on Shires and boosts its market share in Ireland.

Ideal Standard International today announced that it has purchased four subsidiaries of Ireland-based Qualceram Shires plc: Shires Ireland Limited, Quay Bathrooms Limited, Quality Ceramics (Arklow) Limited and Quality Ceramics (Sales) Limited.

As part of the agreement, Ideal Standard International has acquired the intellectual property rights of Qualceram Shires' brands, including Qualceram, Shires, Selecta and Trent Bathrooms.

Qualceram and Shires are leading bathroom brands in Ireland, offering a broad range of products and enjoying strong awareness in the market. The Shires and Qualceram brands are also sold in the UK.

Ideal Standard International had proposed to acquire the subsidiaries during the Examinership process and the sale was completed after the High Court in Ireland approved the Examiner's scheme. Details of the sale price have not been disclosed.

Qualceram and Shires products are sold through many channels and are well represented in showrooms, social housing and new private housing.

This acquisition will extend Ideal Standard International's market opportunities and allow further development of its business in Ireland and the UK.

Marc Valentiny, Chief Executive Officer at Ideal Standard International said, "The acquisition of Qualceram and Shires is a reflection of Ideal Standard International's strategy to invest in our core markets and strengthen our business for the future. We believe this offers an attractive opportunity to further enhance our market positions in Ireland and the UK."

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