VICTORIA PLC, the Kidderminster-based manufacturer of luxury carpets and floor coverings, is to receive £10m from independent company the Business Growth Fund to support future growth.

Around £7.6m will go towards the acquisition of Abingdon Flooring, the UK carpet manufacturer which also has premises in Kidderminster, along with others in South Wales and Yorkshire.

Founded in 1895, Victoria designs, manufactures and distributes carpets and other floor coverings, targeting the mid to high-end market under a number of different brands. Headquartered in Kidderminster with manufacturing and retail operations in Australia, the business employs more than 600 people. Its products can be found in Buckingham Palace, Balmoral Castle, and several other Royal residences. It manufactured the carpet used in Westminster Abbey for the Royal Wedding and was recently granted a Royal Warrant to Her Majesty The Queen. One of Victoria’s largest customers is John Lewis.

Gavin Petken, BGF’s regional director for the Midlands, said: "Victoria has built a fantastic reputation in the UK and overseas for supplying a wide range of quality flooring materials at a range of price points, with high levels of service. We saw this as an excellent opportunity to back a company with global ambitions and the potential to expand organically and through acquisitions such as Abingdon which adds significantly to the group’s product offering. While Victoria is a listed company, we view it in the same way as our private portfolio companies; a strong UK business with significant growth prospects."