Belgian bed company Latexco has announced an agreement to acquire Atlanta-based Kalathi LLC’s equity ownership of Latexco US Holdings LLC as of this month.
Latexco US Holdings was founded as a 50/50 joint venture between Latexco and Kalathi, and will become a wholly owned subsidiary of the Latexco Group.
The Group has also announced the appointment of Ben Ducatteeuw as its new CEO of Latexco US, effective from 2 January 2017, and will work alongside its COO, Bob Carstens, whilst current US leader Vincent Gesquiere will return to Belgium following a handover period and continue to work on other projects.
Ben has been active as managing director for the Deslee-Clama innovation centre in Belgium over the last five years, overseeing sales and innovations within the mattress ticking industry.
Latexco US Holdings unites the production facility at its Lavonia, Georgia operation with the conversion and distribution centre located in Santa Fe Springs, California.
A statement from the Group said: “Since the start of Latexco US Holdings in 2006, we have made great progress in building out our US operations to a profitable company. With a 20% per annum growth over the last four years we are serving over 200 customers in North and South America.
“With this consolidated ownership and new management team, the Latexco Group is pursuing its belief in the future growth and opportunities of Latexco US Holdings where we continue to position the company as a reliable and innovative partner and a ‘one-stop-shop’ for the mattress industry.”