Delta Plus Group, a major player in the Personal Protective Equipment (PPE) market, is pursuing its policy of geographic development and strengthening in high value-added business segments.
After the acquisition, in January 2020, of two significant players in the work boot sector in Europe, the Boots Company Group in Italy and the activities of Netco Safety in France, with the aim of accelerating its development in this segment of products and to become a benchmark player, Delta Plus Group announces today the acquisition of 100% of the shares of Hunter Manufactura SA de CV (Drypro) with the dual aim of consolidating the development of its “Boots of work”, and to initiate a geographic presence in Mexico, a country with strong growth potential.
Created more than 10 years ago in Zapopan (State of Jalisco in Mexico), Drypro designs and manufactures a range of high-end PVC work boots, intended in particular for the food industry.
The company achieved during its last financial year, ended December 31, 2021, a turnover of 122 million Mexican Pesos (6 million Euros), up 14% compared to 2020.
It is aiming for a turnover of around 150 million Pesos (7.5 million Euros) for the 2022 financial year.
Its operational profitability is similar to that of Delta Plus Group.
Thanks to its production unit, made up of three injection machines, Drypro produces 90% of the products sold by the company.
The company employs 45 people.
Hunter Manufactura SA de CV, which markets more than 70% of its products under its brand (Drypro) produced more than 670,000 pairs of boots in 2021.
Over the years, it has built up a portfolio of around a hundred loyal customers, mainly made up of PPE distributors, but also hardware stores and industrial end users.
The company achieves more than 90% of turnover in Mexico.
Drypro has established itself as the leader in the high-end segment of its market, by capitalizing on the quality of its products and on innovation, while developing in-depth knowledge of the market, distributors and end users.
The integration of Drypro within Delta Plus Group will allow the Group to benefit from a new growth platform in America, while contributing to the project initiated in 2020 to become a leading player in the work boot market worldwide. .
Close collaboration with the local teams will enable Drypro to expand its product catalog in order to offer a benchmark multi-family “PPE” offer on the Mexican market.
At the same time, the pooling of the skills of Drypro and Delta Plus Group in the field of work boots will enable the company to accelerate its growth in its historical markets, and to find major growth drivers on the American continent. through the network of Delta Plus subsidiaries already established.
Delta Plus Group
Delta Plus Group announced at the end of July 2022 a record half-year turnover of €204.9M, up +22.8% compared to 2021, and more recently, on September 5, 2022, a current operating profit of 24.8M € for the first six months of the year, up +7.9%.
Delta Plus Group has demonstrated for two years its ability to limit the consequences of the crisis linked to Covid-19 on its activity and to pursue at the same time a proactive policy of acquisitions, confirming through 9 acquisitions finalized since the beginning of 2020 its strategy deployment in areas with high growth potential and in high value-added businesses.
The first months of integration of the new subsidiaries acquired in 2022, Maspica and Safety Link (contribution to turnover close to €25m in the first half) are very satisfactory.
Combined with the integration of Drypro’s revenue from the second half of 2022, these performances make it possible to revise slightly upwards the initial target for the scope effect on revenue, which now stands at 14% over the whole year.
The Group is still aiming for continued organic revenue growth for 2022, despite highly uncertain macro-economic and geopolitical contexts.
The first half of the year was marked by events that weighed on the rest of 2022 with uncertainties about the level of short-term profitability: war in Ukraine, strict confinements in China, persistence of significant inflationary pressures affecting in particular the price of raw materials and energy, significant variations in the exchange rates of the main world currencies.
In this context, the Group is implementing all the measures intended to limit the impact of these significant events on the level of operating profitability and to defend a level of results in line with previous years.
In addition, the Group aims to maintain a solid financial structure enabling it to ensure the financing of its development, in particular within the framework of its strategy of moving upmarket and of geographical reinforcement.
About DELTA PLUS
Delta Plus Group designs, standardizes, manufactures or has manufactured and distributes a full range of Personal Protective Equipment (PPE). Delta Plus Group is listed on EURONEXT GROWTH PARIS (ISIN: FR0013283108 – Ticker: ALDLT)
More information: www.deltaplusgroup.com
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