Lano Group has announced Belgotex as a new shareholder in the Lano Group. Lano Group CEO, Joe Lano, says that Belgotex and Lano share the same passion for the carpet industry. He sees this as essential for a fruitful and valuable joint venture.
The textile group Belgotex produces carpets and synthetic turf all over the world. The company is owned by Stephan Colle and his wife Ann De Clerck. Last year, Lano Group started looking for a partner to protect itself in the increasing trend of mergers and acquisitions in the textile industry.
In a statement on LinkedIn, Joe Lano said that “the combined experience and knowledge of the shareholders can only be beneficial in today’s challenging economic climate contributing to a solid foundation for the years to come.”
Joe Lano and his aunt Mireille Lanneau will remain board members of their company.
New shareholders Stephan Colle and his wife Ann De Clerck who are living in South Africa where they manage Belgotex South Africa. They are also shareholders in Beaulieu Group, another Belgian company in the carpet and synthetic turf industry and that is co-owner of Associated Weavers. Ann De Clerck is also related to the De Clerck family who established Domo Sports Grass and carpets over two decades ago.
Rumour has it, that Lano has also concluded the acquisition of the French company Exelgreen. Last year, Sportsfields.info reported on this development already. The French tufting company was amongst the biggest customer of Lano Sports. With Excelgreen part of its financial system, the turnover for Lano Group jumped to 125 million with a profit of 17 million euros last year.