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Acquisition of the French family group Devaux |
EXEL Industries announces the acquisition of a majority stake (81% of the capital) in the French family group Devaux, which specializes in the manufacture and sale of garden tools. With a turnover of approximately 12 million euros in 2022, the Devaux group employs around fifty employees divided between its production site, in Tinchebray-Bocage, in Normandy and its logistics site in Savigny, in the region Lyonnaise. This transaction allows EXEL Industries to accelerate its development in the consumer garden equipment market.
The Devaux group enjoys historical expertise in this sector since it was born in 1992 from the takeover of the company Duchesnay, manufacturer of handle tools and created in 1923, by the Devaux Establishments, founded in 1964 and specialized in trading. of garden tools.
The Devaux group offers a range of nine product families (lawn, wood, pruning, snow, flowers, balconies, terraces, watering and fireplace accessories) as well as ranges of garden tools for children. Operating under its own brand and as a private label, the Devaux group also benefits from a strong presence in garden centres, DIY stores and at GSA (Food Supermarkets) distributors.
Already present in garden equipment with its historical brands Hozelock, GF, Berthoud and Tricoflex, EXEL Industries is thus strengthening its Leisure activity by offering a new range of products, this time in hand tools.
Marc Ballu, Managing Director in charge of the Garden activity at EXEL Industries
:
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We are delighted to welcome the Devaux group to the Garden activity. This beautiful family business, manufacturer in France, represents a real development potential for our activity. Their responsiveness, agility and ability to bring innovation and excellent service to their customers’ requests is remarkable. Jean-Luc Devaux, who made it a success with his teams, will be the Managing Director. The values of our two neighboring companies are very similar. We welcome this talented team with great pleasure.
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Jean-Luc Devaux, Chairman of the Management Board of the Devaux group:
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I am delighted with this operation, which is a major step in the development of our structure. I am convinced that this transaction will prove to be highly virtuous for our company, thus opening up new prospects for growth. We are proud to be part of a family group with which we share fundamental values: operational excellence, a culture of service, respect for the environment and a passion for French industrial know-how.
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The Devaux group becomes a subsidiary of Hozelock EXEL and will operate alongside the other brands of the Garden activity of the EXEL Industries group: Hozelock, GF, Berthoud and Tricoflex. The general management of the new entity will remain in the hands of Jean-Luc Devaux, current Chairman of the Management Board of the Devaux group.
This new stage in the development of EXEL Industries is part of the Group’s overall strategy to position itself as a leader in all of its markets, not only through organic growth, but also through external growth.
About EXEL Industries
EXEL Industries is a French family group whose ambition is to design, manufacture and market capital goods and related services that enable its customers to improve efficiency and productivity, or contribute to the pleasure of living, and achieve their environmental and societal goals.
Driven by a strategy of innovation for 70 years, EXEL Industries has based its development on innovative ideas in order to offer its customers unique, efficient, competitive and easy-to-use products.
Since its creation, the Group has experienced significant internal and external growth in each of its markets, backed by a stable shareholder base guided by a long-term development strategy.
In 2022–2023, EXEL Industries employs 3,770 permanent employees in 27 countries on 5 continents and its turnover amounts to 977 million euros.
Euronext Paris, SRD Long only – compartment B (Mid Cap) / EnterNext index © PEA-PME 150 (Ticker EXE / ISIN FR0004527638)
Press release available on the website
www.EXEL-industries.com
Attachment
EXEL Industries_Press release_Acquisition-group-Devaux_FR_08-06-23