EXEL Industries completes the acquisition of the Italian company GF Garden
15 Février 2022 - 6:00PM
EXEL Industries completes the acquisition of the Italian company GF
Garden
PRESS
RELEASE
15th February 2022
EXEL Industries
completes the acquisition of the Italian company GF
Garden
Today, EXEL Industries has completed the
acquisition of 100% of the Italian company GF Garden after all
precedent conditions have been satisfied.
GF Garden becomes a subsidiary of EXEL
Industries and will operate alongside the brands of the group's
Garden division: Hozelock, Tricoflex and Berthoud. The GF Garden
site in Corregio in the Emilia Romagna region joins the group with
all its employees.
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 GF Garden
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. The
company achieved a total revenue of €34 million in 2021 and employs
170 people.
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.
- PR Closing - EXEL Industries completes the acquisition of the
Italian company GF Garden
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