PRESS RELEASE
the
28
January
202
2
Strategic acquisition of the company
GF Garden
in
Italy
As part of the strong growth of its Garden activities, EXEL Industries reached an agreement on January 28, 2022 to acquire 100% of the GF Garden business sold by the Italian family group FISPA SRL The transaction should be finalized in February 2022.
GF Garden
is a historical manufacturer of garden equipment in Italy. The company produces articles for watering, irrigation, garden maintenance and outdoor living. It develops its activity in more than 50 countries, through its own brands, and private label. GF has also developed a brand of recycled products RECO.
Established in the Emilia Romagna region, in Correggio, GF Garden has an industrial site. The company achieved a turnover of €34 million in 2021 and employs 170 people.
Already present with the HOZELOCK, BERTHOUD and TRICOFLEX brands in garden equipment, the acquisition of GF Garden will strengthen EXEL Industries’ position in this market.
With significant market shares in the United Kingdom, France and Northern Europe, HOZELOCK will benefit from the strong influence of GF Garden in Italy, France, Southern Europe and Germany. This acquisition thus strengthens the Group’s position in Southern Europe for its Garden activity.
The complementarity of geographic markets, coupled with obvious product synergies, allows EXEL Industries to further gain skills in garden equipment with the combination of strong complementary brands. Indeed, the strong identity of its products gives GF Garden a recognized reputation in its markets.
Thanks to its industrial efficiency, GF has been able to develop a production of “Own Brands” and represents a real local European alternative, compared to products made 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 for which the HOZELOCK and GF Garden companies have synergies of significant distributions.
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 associated services that enable its customers to increase efficiency, productivity, or contribute to the pleasure of living, and to achieve their environmental and societal goals.
Driven by an innovation strategy since
more
7
0 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.
EXEL Industries employs 3,546 permanent employees in 27 countries on 5 continents. In 2020 – 2021 the turnover was 877M€
,
of which
132M€
realized
s
in L
Garden activity.
Euronext Paris, SRD Long only – compartment B (Mid Cap) /
index
EnterNext
© PEA-PME 150 (
Mnemo
EXE / ISIN FR0004527638)
Press release available on the website
www.exel-industries.com
.
Yves BELEGAUD | Thomas GERMAN |
www.hozelock.com www.gfgarden.it www.tricoflex.com www.berthoud.fr
Cornet Vincent
S
star
gurel
and
withersworldwide
acted as legal advisors to Exel Industries and KPMG
realized
the D
eu d
financial and tax due diligence.
Sutich
Barbieri
Sutich
studio
legal
and Studio Morandi acted as legal and tax advisors, while Equita K Finance acted as financial advisor to FISPA
S.r.l.
.
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2.13.0.0
2.13.0.0
Attachment
PR – Strategic acquisition of GF Garden in Italy