Management of Belcolor to acquire the company from Headlam for £12m.

Management of Belcolor, a floorcoverings distribution business based in St. Gallen, Switzerland, agreed to acquire the company from Headlam, a floorcoverings distributor, for £12m. The management team will acquire 100% of Belcolor through a new entity, CH Floorcovering Group, while continuing to operate the business under the Belcolor name. Following formal completion of the disposal, anticipated on or around 17 May 2021, Headlam will have no further assets or operations in Switzerland, with its operations subsequently focused in the UK, France, and the Netherlands.