The Lamosa Group, which specialises in the manufacture and marketing of wall and floor tiles, ceramic adhesives and insulating materials, completed the acquisition of Castellón-based Baldocer on 31 October. The Mexican company successfully completed the transaction after obtaining the necessary regulatory and shareholder approvals.

An initial payment of 354 million euros was made at the closing of the acquisition, which the Mexican group mainly financed with debt by means of a syndicated loan with an average maturity of four years. In 2025, it plans to make a second payment of at least 71 million euros, an amount that could increase depending on the results achieved following the acquisition date.

Growth strategy
The acquisition includes the Baldocer, Azulejos Benadresa (AB) and Etile brands, which are present in more than 120 countries. This is a very important step in Lamosa's growth strategy and will strengthen its presence on the European continent, which it entered in 2021 with the purchase of the ceramics division of the Spanish group Roca.

Present in nine countries, Lamosa has more than 130 years of experience in the building materials industry. Balcoder contributed 67 million euros in EBITDA to the group in 2022 and the Mexican company is as a result set to increase its consolidated sales by around 16%. At the same time, its coatings production capacity will increase by 12% to around 275 million square metres per year.

Arrival in Europe
On 31 August 2021, the Lamosa Group completed its first acquisition in Spain. It paid USD 260 million for the coatings business of the Roca Group. The transaction included the Incepa, USCT and Gala brands, which are present in the Brazilian, US and Spanish markets respectively. It did at the same time obtain a licence to use the Roca brand.

This first purchase was not only an expansion into the European market. It also gave the Group access to the Brazilian market for the first time and strengthened its position in the United States. Now, its second purchase in Spain opens up a market that reaches more than 120 countries.

^{Photo: Baldocer}