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Cross border acquisition cases of sanitary industry in 2020 ②

[05/02/2021]

Feb. 06, 2021 -  In 2020, there are many acquisition cases in domestic and foreign sanitary and furniture industry. Consolidation of main business, expansion of product categories, strengthening of sales network and improvement of online channels have become the motives behind these multiple acquisition cases.

 

E & F PE acquired Boffi’s sanitary business

E & F PE, a South Korean private equity investment company, acquired the sanitary business of Boffi, an Italian enterprise. Boffi was founded in 1934, mainly engaged in kitchen supplies, sanitary supplies, general furniture and interior decoration, with annual sales of about 50 million euros (about 400 million yuan). It is reported that E & F PE is also interested in acquiring more sanitary companies, including another Italian company Pantini and a number of domestic sanitary companies in South Korea, after acquiring related businesses of Inus and Boffi.



Hansgrohe acquired the floor drain company ESS

On November 10, 2020, German time, Hansgrohe Sanitary Products (Shanghai) Co., Ltd. (Hansgrohe) announced on its official website that it would acquire a majority stake in ESS, a family business in the Netherlands. Hansgrohe expects the transaction to be completed in the first quarter of 2021, after which ESS will become a subsidiary of Hansgrohe. ESS, founded in 1928, is the inventor and manufacturer of easy drainage shower pipe (strip shower floor drain). ESS will become the R & D center and partner of Hansgrohe's bathroom drainage solutions, and will jointly develop and sell such products in the future, Hansgrohe said. With this investment, Hansgrohe will expand its product range.



Laura Ashley acquired by Gordon brothers

In early 2020, due to COVID-19's influence, Laura Ashley, the UK's leading fashion home furnishing retailer, launched the bankruptcy process. The bankrupt Laura Ashley was acquired by Gordon brothers, an American investment company. Gordon brothers will work with Laura Ashley's current management, including closing some stores and maintaining British and Irish physical stores. At the same time, it will focus on the development of e-commerce business, develop more wholesale partnerships, and expand the network of franchisees and franchisees around the world.


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