Duratex agrees to buy Cecrisa for up to R$ 539 million

Duratex announced an agreement to acquire ceramic tile manufacturer Cecrisa for up to R$ 539 million, with R$ 264 million in cash and up to R$ 275 million contingent on future conditions. Cecrisa has three factories in Brazil.

“Essa aquisição somada à expansão da Ceusa, anunciada anteriormente, traz escala e sinergias importantes para o nosso negócio, deixando a Duratex mais competitiva.”g1.globo.com

• 3 sources
• g1.globo.comDuratex acerta acordo para comprar rival Cecrisa por até R$ 539 milhões | G1May 23, 2019
• pymnts.comCPI | Brazil: Duratex acquires rival CecrisaCPIMay 23, 2019
• ceramicworldweb.comDuratex acquires Cecrisa in Brazil | Ceramic World WebJun 19, 2019

Summarized from public sources; check the original articles before acting on it.