On April 23, 2021, Wendel announced that as part of its 2021-24 investment strategy, it had teamed up with the Deconinck family to form Tarkett Participation and support Tarkett’s growth.
This investment will be accompanied by an offer to acquire Tarkett shares. Depending on the success of the offer, Wendel will hold up to 30% of Tarkett Participation, alongside the Deconinck family, which will maintain a controlling stake in the company.
Wendel will be represented on Tarkett’s board of directors and will have corporate governance rights commensurate with the level of its minority shareholding.
Following this announcement, André François-Poncet, Wendel Group CEO, said: “Wendel is extremely proud to join forces with the founding family in this transaction. Tarkett is a prime example of entrepreneurship, and we are pleased to support the company over the long term, alongside members of the family. The transaction illustrates the Wendel team’s ability to identify investment opportunities which fit our long-term investor profile. We are eager to support Tarkett in its future growth, by bringing to bear all of Wendel’s skills and expertise, in particular in Europe and North America.”