DGAP-News: Bauwerk Parkett AG and Boen AS merge to form Bauwerk Boen Group
(firmenpresse) - EquityStory AG-News: Bauwerk Parkett AG / Key word(s): Merger
Bauwerk Parkett AG and Boen AS merge to form Bauwerk Boen Group
21.03.2013 / 14:00
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Press release
Bauwerk Parkett AG and Boen AS merge to form Bauwerk Boen Group
Two of Europe's leading manufacturers of parquet flooring, Bauwerk Parkett
AG from Switzerland and Boen AS from Norway, are merging to form Bauwerk
Boen Group. The new group will be Europe's leading provider in the premium
segment and the second-largest player in the wood flooring market with
combined sales of around CHF 275 million (EUR 230 million). The expansion
of the complementary market positions of the two brands will strengthen the
competitiveness of the group and provide customers with a wider range of
high quality wood flooring products.
St. Margrethen/Kristiansand, March 21, 2013 - Bauwerk Parkett AG
('Bauwerk') from St. Margrethen/Switzerland and Boen AS ('Boen') from
Kristiansand/Norway are merging under the name Bauwerk Boen Group. The new
group will be headquartered in Zurich/Switzerland and will be run by an
executive management team made up by 7 members from the two former
management teams and headed by the former Bauwerk CEO Klaus Brammertz.
Thorleif Hals, CEO of Boen, will be Head of Integration and Deputy CEO. In
the last financial year the two companies produced a combined volume of
more than 8 million square meters of wooden floor coverings, employed some
1,400 people and generated sales of around CHF 275 million (EUR 230
million). Once the transaction has been completed, the current owners of
Boen and Bauwerk, the Johan G. Olsen Group, Zurmont Madison and EGS
Beteiligungen AG, will each hold around one-third of the new group.
Complementary companies with well established brands
The merger will create a parquet group with a strong market position.
Bauwerk and Boen are largely complementary companies where Bauwerk is the
market leader for two-layer parquet, and Boen is one of the biggest
providers of three-layer parquet. The companies' sales channels also make a
good fit since Bauwerk mainly uses craftsmen who lay the flooring
themselves, and Boen sells most of its products through specialist dealers
and wholesalers. There are very few geographical overlaps as Bauwerk
operates primarily in Switzerland, Germany, Austria and the Netherlands,
whereas Boen has a strong presence in Norway, Germany, Sweden, France, UK
and the Baltics. As a group the company will be active in more than 20
European countries and will be among the top three players in all relevant
markets. In addition, Boen is offering products globally through an
extensive agent and distribution network in more than 20 countries. Bauwerk
and Boen will continue to operate under their current names, offering
existing and new customers the opportunity to benefit from a wider range of
products and services.
Continuation of growth strategies
The growth strategies of the two companies will be continued after the
merger by strengthening the international sales channels. The Bauwerk Boen
Group will reach a size that strengthens the group's competitiveness both
on short and long term. There are opportunities to quickly realize
synergies, particularly in the areas of customer offering and procurement.
Additional synergy potential will be examined once the merger has been
approved by the competition authorities.
KlausBrammertz, CEO of Bauwerk, said: 'With the merger of these two
complementary companies the offering for our customers will be even more
attractive and we get access to additional markets.'
And Thorleif Hals, CEO of Boen, commented: 'I have not in my 30 years of
international experience seen such a merger between two of the strongest
players in a market segment with so many upsides.'
For further information, please contact:
Bauwerk Parkett AG:
Klaus Brammertz, CEO
+41 71 747 72 79
klaus.brammertz(at)bauwerk.com
BOEN AS:
Thorleif Hals, CEO
+47 951 54 084
th(at)boen.no
Media Office Zurmont Madison/EGS Beteiligungen:
Edwin van der Geest/Philippe Blangey
+41 43 268 32 30
vdg(at)dynamicsgroup.ch
Johan G. Olsen Group:
Bjørn Henrik Rasmussen, Chairman
+47 913 18 694
post(at)folluminvest.no
End of Corporate News
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21.03.2013 This press release was distributed by EQS CORPORATE
COMMUNICATIONS.
www.eqs.com - news archive: www.eqs.com/ch/presskit
The issuer is responsible for the contents of the release.
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Datum: 21.03.2013 - 14:00 Uhr
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