Broadview Holding now also intends to acquire Formica

08.01.2019 − 

The Dutch Broadview Holding, which has controlled Trespa and Arpa Industriale for some time and acquired a majority stake in Westag & Getalit in August 2018 for around € 170m, intends to acquire Formica Group. In mid-December, the company signed a corresponding agreement with Formica's previous owner Fletcher Building, which had initiated a sales process for the laminate manufacturer in April 2018. The purchase price was set at US$840m without cash and on a debt-free basis. The transaction is expected to close by the end of Fletcher Building's 2018/2019 fiscal year, which runs until the end of June, following receipt of the necessary antitrust approvals.

In fiscal 2017/2018, Formica generated sales of US$713m or the equivalent of €630m with production sites in North America, Europe and Asia and approximately 3,400 employees. Broadview Holding, which is active in various areas and will focus even more strongly on laminates and elements with the planned acquisition of Formica, recently generated sales of around €700 million with around 2,900 employees.

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