EXEL Industries: Strategic Acquisition of GF Garden in Italy
January 28 2022 - 12:00PM
EXEL Industries: Strategic Acquisition of GF Garden in Italy
PRESS
RELEASE
28th January 2022
Strategic
Acquisition of GF Garden
in Italy
As part of the strong growth of its activities
in the Garden sector, EXEL Industries reached an agreement on the
28th January 2022 for the acquisition of 100% of the company GF
Garden from the Italian family group FISPA S.R.L. The transaction
is expected to be finalised in February 2022.
GF Garden is an historical
manufacturer of garden equipment in Italy. The company produces
goods for watering, irrigation, garden maintenance and outdoor
living. It is active in more than 50 countries, through its own
brands and private labels. GF has also developed the brand RECO for
recycled products.
Located in the Emilia Romagna area, in
Correggio, GF Garden has one industrial site. The company achieved
a total revenue of €34 million in 2021 and employs 170 people.
Already present in garden equipment with the
HOZELOCK, BERTHOUD and TRICOFLEX brands, the acquisition of GF
Garden will strengthen the position of EXEL Industries on this
market.
With significant market shares in the UK, France
and Northern Europe, HOZELOCK will benefit from GF Garden's strong
presence in Italy, France, Southern Europe and Germany. Thus, this
acquisition further strengthens the Group’s position in Southern
Europe for its garden business.
The complementarity of geographical markets,
coupled with obvious product synergies, allows EXEL Industries to
gain further expertise in garden equipment with the combination of
powerful complementary brands. Indeed, the strong identity of its
products gives GF Garden a recognised reputation in its
markets.
Thanks to its industrial efficiency, GF has been
able to develop "Private Label" manufacturing and is becoming a
real European alternative to products manufactured in Asia.
This new acquisition, combined with strong
organic growth in the Garden business (+9.4% in 2020-2021), enables
EXEL Industries to increase its presence in a buoyant market where
HOZELOCK and GF Garden have significant distribution synergies.
This new milestone in the development of EXEL
Industries is part of the Group's overall strategy to position
itself as a leader in all its markets, both through organic growth
and external growth.
About EXEL Industries
EXEL Industries is a French family-owned group
that designs, manufactures and markets capital equipment and
provides associated services that enable its customers to improve
efficiency and productivity or enhance their well-being while
achieving their CSR objectives.
Driven by an innovation strategy for over 70
years, EXEL Industries has based its development on innovative
ideas designed to offer customers unique, efficient, competitive
and user-friendly products.
Since its inception, the Group has recorded
significant growth in each of its markets through both organic
growth and corporate acquisitions, underpinned by a stable
shareholder base guided by a long-term development strategy.
EXEL Industries employs approximately 3,546
permanent employees spread across 27 countries and five continents.
The Group posted FY 2020-2021 sales of €877 million of which €132
million was achieved in the Garden business.
Euronext Paris, SRD Long only – compartment B
(Mid Cap) EnterNext© PEA-PME 150 index (symbol: EXE/ISIN
FR0004527638)
Press release available on
www.exel-industries.com.
Yves BELEGAUDGroup CEOYves.belegaud@exel-industries.com |
Thomas GERMAINCFO / Financial communication
direction.communication@exel-industries.com |
www.hozelock.com www.gfgarden.it
www.tricoflex.com www.berthoud.fr
Cornet Vincent Ségurel and Withersworldwide acted
as legal advisors of Exel Industries and KPMG performed the
financial and tax due diligence. Sutich Barbieri Sutich studio
legale and Studio Morandi acted as legal and tax advisor, while
Equita K Finance acted as financial advisor of FISPA Srl.
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