RAK Ceramics to acquire Germany’s Kludi Group to expand operations – The National

RAK Ceramics to acquire Germany’s Kludi Group to expand operations – The National

RAK Ceramics, one of the world’s biggest producers of ceramic products, plans to acquire 100 per cent of Germany’s Kludi Group as it seeks to expand its operations internationally.

The company will acquire Kludi Group at a valuation of €39 million ($42.9m), RAK Ceramics said on Tuesday.

The deal, subject to regulatory approvals, is expected to be completed by May 31.