(BFM Bourse) – The boat builder has entered into negotiations with Trigano to sell its Habitat business to it. Beneteau now wants to focus on the boating market, its historic activity.
The boat builder Beneteau, which wants to focus on the boating market, announced on Friday that it had entered into exclusive negotiations with Trigano to sell its housing activity.
The Vendée-based group wants to “focus its development on the nautical market, its historic core business”, and thus sell its housing activity, which notably produces mobile homes that can be found in campsites (IRM, O’ Hara and Coco Sweet), Beneteau said in a statement.
The operation would concern the takeover of the entire subsidiary, which has seven production sites in France and Italy, as well as “all” of its approximately 900 employees in these two countries and its current management team, specifies the company. The amount of the transaction was not disclosed.
On the Paris Stock Exchange, Beneteau’s refocusing on its core business is appreciated. The Beneteau and Trigano shares both rose by more than 2% around 11:25 a.m.
Full focus on the boat division
This sale will allow Beneteau “to accelerate the growth and upmarket” of its boat division, “to accelerate its development in new nautical professions” such as digital. The group also wants to focus on its “technological transition, linked in particular to environmental issues”.
“By joining Trigano, the housing business would fully benefit from the development opportunities offered by the ecosystem of a major European player in vehicles and leisure equipment” and “the housing division would thus become one of its main growth”, commented Bruno Thivoyon, managing director of the Beneteau group, quoted in the press release.
For Trigano, the acquisition must in particular allow “synergies in particular on purchasing, logistics and manufacturing methods”, according to a separate press release.
Beneteau posted record results in 2022, with net profit up 40.5% to 103 million euros. The turnover of its habitat division jumped 41%, to 257 million euros. The group said in March that it expects 15% growth in France and the entire European market in 2023 for this division, whose turnover should be “close to 300 million euros”.
The completion of the operation could take place “by the end of the 2023 financial year”, specified the two companies.
(With AFP)
SS – ©2023 BFM Bourse
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