ABEO strengthens its position in Belgium with the acquisition of Eurogym, a distributor of gymnastic equipment
ABEO, a leading global supplier of sports and leisure equipment, today announces the acquisition of the entire share capital of Belgian company Eurogym, which specialises in the distribution of leisure and competition gymnastics equipment.
Created 29 years ago, Eurogym was acquired from its founder, Lieven Vercruyssen, who will support ABEO for the time necessary to ensure the company's integration within the Group. Based in Haasdonk, Belgium, Eurogym employs around ten people and generates profitable revenue of around €3 million (of which around 70% with the Group).
The acquisition allows ABEO to confirm its control of the entire value chain in Belgium/Benelux. The company also aims to create significant synergies across the Group, in particular with its subsidiary Bosan, a sports equipment specialist in the Netherlands. Lastly, the deal consolidates a longstanding partnership, as Eurogym is the largest official distributor of Gymnova, a Group subsidiary.
The acquisition was finalised on 5 November 2021 using available cash, with no material impact on the Group's net financial debt. Eurogym will be integrated into the Sports division and consolidated from 1 November 2021.
ABEO Group CEO Olivier Estèves said: “We are delighted to welcome the Eurogym teams to ABEO, as we already know them very well. We have been working together for several years, which will allow us to quickly capitalise on Group synergies in the distribution of our products in Europe.”
Find more at www.abeo-bourse.com
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ABOUT ABEO |
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ABEO is a major player in the sports and leisure market. The Group posted turnover of € 174 million for the year ended 31 March 2021, 73% of which was generated outside France, and has 1,339 employees. ABEO is a designer, manufacturer and distributor of sports and leisure equipment. It also provides assistance in implementing projects to professional customers in the following sectors: specialised sports halls and clubs, leisure centres, education, local authorities, construction professionals, etc. ABEO has a unique global offering, and operates in a wide variety of market segments, including gymnastics apparatus and landing mats, team sports equipment, physical education, climbing walls, leisure equipment and changing room fittings. The Group has a portfolio of strong brands which partner sports federations and are featured at major sporting events, including the Olympic Games. ABEO (ISIN code: FR0013185857, ABEO) is listed on Euronext Paris – Compartment C. |
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Full and original press release in PDF: https://www.actusnews.com/news/71887-08112021-abeo-euro-gym-vuk-def.pdf
Source Actusnews
