British carpet maker Victoria announced today it has bought Cork-based Munster Carpets for £400,000.
Victoria said the acquisition will significantly strengthen its presence in the contract markets in Ireland and Britain.
The company said it will be transferring the Munster plant from Ireland to its British operation in Kidderminster "where operational synergies of a vertical operation can be achieved".
In the year to March 31st, 2002, Munster made pre-tax profits of €159,000on sales of €5.5 million. Net assets are Victoria buys Ireland's Munster Carpets