June 2024

RAK Ceramics PJSC (Ticker: RAKCEC: Abu Dhabi), one of the largest lifestyle solution providers, proudly announces the successful completion of the acquisition of remaining 8% stake in RAK Porcelain LLC, making it a wholly owned subsidiary. This strategic move aligns with RAK Ceramics’ ongoing commitment to focus, invest, and grow its core business segments while strategically exiting non-core activities.

As part of the RAK Ceramics’ broader vision to consolidate and grow its four core segments: Tiles, Sanitaryware, Faucets, and Tableware – the company made significant strides in 2022 by acquiring 100% of the KLUDI. This acquisition strengthened RAK Ceramics’ presence in the European market and enhanced its product offerings in the Faucets segment. Following this, RAK Ceramics acquired 42% stake in RAK Porcelain, bringing its total holding to 92% in 2022.

In 2023, RAK Porcelain increased its production capacity by another 10 million pieces, positioning itself as a formidable player in the Tableware market.

The complete acquisition of RAK Porcelain marks a significant milestone in RAK Ceramics’ strategy to enhance its core operations and expand its market reach.

RAK Porcelain, a leading player in the HORECA sector, is now set to venture into the retail space. The company recently launched its first RAK Porcelain retail showroom at Dubai Hills Mall, with plans to open additional showrooms across the UAE and other key markets in the near future.

Abdallah Massaad, Group CEO of RAK Ceramics, stated, “The acquisition of the remaining stake in RAK Porcelain is a testament to our belief in its growth potential. The completion of this acquisition allows us to fully integrate RAK Porcelain into our operations, leveraging synergies across production, distribution, and marketing. Our focus remains on delivering highquality products and expanding our footprint in both the HORECA and Retail sector.

At RAK Ceramics, we are on a mission to transform everyday living by creating high-quality products that not only enhance people’s lives but also inspire positive change in the world. As we continue to strengthen our position as a global lifestyle solution provider, we see significant opportunities in expanding our Tableware segment. Our investment in new showrooms is just the beginning of our journey to becoming a leader in this segment.”

RAK Ceramics continues to explore growth opportunities and remains dedicated to enhancing shareholder value through strategic investments and market expansion. The company’s robust expansionary plans, including the upgradation of their Tiles factory in UAE and India along with expansion of its production facility in Saudi Arabia, are set to add significant capacity to its tiles segments, further solidifying its market leadership.

For more information, visit https://corporate.rakceramics.com/