SERGE FERRARI ACQUIRES 51% STAKE IN GIOFEX

SergeFerrari Group (FR0011950682) designs, manufactures and distributes innovative flexible composite materials and is listed on Euronext Paris - Compartment C.

Saint Jean de Soudain, September 22, 2016 - 7.00 am

Serge Ferrari Group today announces the acquisition of a 51% equity stake in Giofex Group srl via a reserved share capital increase. The purpose of the transaction is to step up Serge Ferrari's sales in Europe whilst providing Giofex with additional resources to fund its initiatives, in cooperation with GIC, owner of the remaining 49% of the company's equity. GIC is the controlling shareholder of Italian-based distributor Giovanardi Filli.

Giofex's distribution network covers six countries, namely Germany, France, UK, Romania, Bulgaria and Slovakia. This acquisition will help Serge Ferrari to improve its service to small and medium-sized customers via a “one-stop shop” approach.

Giofex employs 60 people and posted 2015 revenue of €16 million. Giofex serves around 2,000 customers.

Find all Company details at www.sergeferrari.com.



 

SERGE FERRARI CONTACT

Philippe Brun

Chief Financial Officer, Board Member

[email protected]
INVESTOR & PRESS CONTACT

Amalia Naveira/Marie-Claude Triquet

Actus Lyon

Tel.: 00 33 4 72 18 04 93

[email protected]/[email protected]

ABOUT SERGE FERRARI

Serge Ferrari Group designs, makes and distributes high-tech eco-responsible flexible composite materials in a global market with an estimated medium-term value of €31 billion. The unique characteristics of these products make them ideal for technical applications in three fields: architecture, specialties for industry professionals, and composite membranes for the consumer market. The Group's principal competitive advantage lies in its differentiating technology – Précontraint® - and its associated proprietary industrial know-how. The Group has three production sites: one in France and two in Switzerland. Serge Ferrari is present in 80 countries through five subsidiaries (in the US, Japan, Hong Kong, Brazil, India), 5 representative offices (in Spain, Turkey, China, Singapore and Dubai) and a network of more than 100 distributors. At the end of 2015,
Serge Ferrari posted consolidated revenue of €148,4 million of which 75% was achieved outside France. The company SergeFerrari Group is listed on Euronext Paris – Compartment C (ISIN code: FR0011950682). The SergeFerrari Group share is eligible for PEA-SME and FCPI Investment.

 

 www.sergeferrari.com

Source: Actusnews