ORFENGO, Italy, October 20, 2015 /PRNewswire/ --
With immediate effect the Italian group, Sambonet Paderno Industrie S.p.A., has taken over Ercuis, a French silverware company established back in 1867 and majority shareholder of Raynaud, a porcelain manufacturing company founded in Limoges in 1849. This agreement outlines the acquisition of a 100% stake in Ercuis, which holds a 55.25% shareholding in Raynaud. The purchase price is not being disclosed. The remaining capital is held by the members of the Raynaud family.
This consolidation continues the strategy launched in 1979 by the Italian group, which saw the acquisition of Paderno followed by Sambonet in 1997, Rosenthal in 2009 and Arzberg in 2013.
Through the acquisition the Italian group, which closed 2014 with sales of over €160 million, will now operate through the brands Sambonet, Rosenthal, Rosenthal meets Versace, Paderno, Arthur Krupp, Arzberg, Thomas and Hutschenreuther, will consolidate its position as the global leader in the tableware and kitchenware sector, principally increasing its product offering in the ultra-exclusive luxury and top-end segments.
The production sites operated by Ercuis in the department of Oise, which specialise in manufacturing cutlery and silverware pieces, and in Limoges, which produce porcelain, will also become part of the new group.
With sales of €13 million in 2014, Ercuis and Raynaud will give the Italian group a strong positioning in the French market - both in the retail sector mainly through the flagship store at rue Boissy d'Anglas in Paris' Madeleine district, but also in terms of key influencers and designers as well as in the luxury hotel segment.
The acquisition will enable the group to increase its visibility and critical mass, a key strategic variable in determining commercial relationships with major stores.
Barabino & Partners
SOURCE Sambonet Paderno Industrie S.p.A