Investindustrial has signed an agreement with Arclinea to become – through B&B Italia – the majority partner of the Italian leader in high-end designer kitchens.
The Fortuna family, the current sole shareholder of Arclinea, will continue to own a minority stake, and at the same time will continue its role in the operational management, with Silvio Fortuna becoming President of the company.
Through this agreement, Investindustrial creates a global high-end furnishings player with about €200m turnover (85% of which is exported) and a presence in over 80 countries worldwide.
The operation will offer B&B Italia the opportunity to expand its product range into the high-end designer kitchen segment and Arclinea will be able to substantially accelerate its growth plans.
Specifically, the agreement provides for the development of strategic partnerships leveraging the full complementarity of the respective product ranges, and on the common ability to combine unique design with tradition and innovation through a re-known industrial production approach.
The transaction will be completed by the end of September 2016, and represents for B&B Italia the first step of a growth plan aimed at further industrial development and global expansion, either through organic growth or selective acquisitions.
Giorgio Busnelli, CEO of B&B Italia commented: “For B&B Italia this is the first major milestone in the growth and development process that formed the basis of the agreement which we signed with Investindustrial last year. B&B Italia now expands its product portfolio into the exciting segment of designer kitchens, a sector of primary importance for both residential and commercial business. Brand strength, a dedication to research and innovation, and a global footprint are some of the values shared by the two companies. The shared mind- set will make it possible to activate synergies in terms of business development and strategic thinking, which will be a very exciting task for both of us to accomplish”.
“The core values of our company and our family, are the same as those of Investindustrial and B&B Italia” – Silvio Fortuna, President of Arclinea, added – “From this realisation sprang the decision to enter into a partnership and share development projects on the world market. For Arclinea, a global star of the high-end kitchen segment, this will mean a further substantial acceleration of its international development.”