Calcutta Home Fashion Group Buys AG TEX
Completes Third Acquisition in Six Months
February 8, 2023
Christof Vermeersch
GHENT, BE—Calcutta Home bought AG TEX, an upholstery and drapery mill in Waregem.
The purchase of this mill, founded in 1997 includes 25 looms that will be moved to the Calcutta manufacturing campus in Mariakerke according to Christof Vermeersch, CEO of Calcutta.
All 12 AG TEX employees will remain with the acquired company, but the principals will retire.
“This acquisition is part of our buy and build strategy,” Vermeersch emphasizes. “We add seven million Euro to our group turnover and can immediately scale these collections geographically through our international agency network,” he says. He says AG TEX will substantially increase Calcutta’s turnover in the UK.
Vermeersch expects to expand the offerings and agency network of AG TEX, which is a resource to global editeurs, architects and interior designers. This acquisition follows the purchase of Annabel several months ago.
Vermeersch has gone on record in saying he hopes to produce $50 million in group turnover within the next five years.
The purchase of this mill, founded in 1997 includes 25 looms that will be moved to the Calcutta manufacturing campus in Mariakerke according to Christof Vermeersch, CEO of Calcutta.
All 12 AG TEX employees will remain with the acquired company, but the principals will retire.
“This acquisition is part of our buy and build strategy,” Vermeersch emphasizes. “We add seven million Euro to our group turnover and can immediately scale these collections geographically through our international agency network,” he says. He says AG TEX will substantially increase Calcutta’s turnover in the UK.
Vermeersch expects to expand the offerings and agency network of AG TEX, which is a resource to global editeurs, architects and interior designers. This acquisition follows the purchase of Annabel several months ago.
Vermeersch has gone on record in saying he hopes to produce $50 million in group turnover within the next five years.