Caesarstone Completes Majority Stake Acquisition of Lioli Ceramica

About this update from Caesarstone Ltd.

[{"type":"text","content":"\n- Addition of Global Porcelain Countertop Producer Establishes Caesarstone’s Position as Leading Premium, Multi-Material Countertop Company -\n\n MP MENASHE, Israel--(BUSINESS WIRE)--\nCaesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surfaces, today announced it has closed on its previously-announced majority stake acquisition of Lioli Ceramica Pvt. Ltd (“Lioli”), an India-based producer of cutting-edge porcelain countertop slabs, operating innovative and technologically advanced manufacturing facilities in Asia.\n\nYuval Dagim, Chief Executive Officer commented, “We are extremely pleased to announce the completion of this investment. We have gained immediate access to the fast-growing global porcelain countertop category, with Lioli’s premium products combined with our strong brand and global network poised to accelerate our multi-material growth strategy. We welcome the Lioli team to our Company and look forward to realizing our mission under our global growth acceleration plan to be the first brand of choice for countertops around the world.”\n\nAbout Caesarstone\n\nCaesarstone is a concept and lifestyle-driven company with a customer-centered approach to designing, developing, and producing high-end engineered surfaces used in residential and commercial buildings. Our products offer superior aesthetic appeal and perfected functionality through a distinct variety of colors, styles, textures, and finishes used in countertops, vanities, wall cladding, floors, and other interior surfaces. Marked by their inherent longevity characteristics such as non-porousness, scratch and stain resistance, and durability, the company’s product umbrella offers a highly desirable alternative to other surfaces. Strong commitment to service has fostered growing customer loyalty in over 50 countries where the five distinct Caesarstone product collections are available: Classico, Supernatural, Metropolitan, Concetto and Outdoor. For more information please visit our website: www.caesarstone.com.\n\nForward-Looking Statements\n\nInformation provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995. These forwar...

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