As part of its development strategy, ATLANTEM, the Joinery subsidiary of the HERIGE Group, announced today that it has begun exclusive negotiations with the shareholders of PORALU Group, which is based in the Rhône-Alpes region, for the potential acquisition of 100% of the company's share capital.
This major strategic project marks a turning point in the history of the HERIGE Group and will create a leading French industrial manufacturer of custom-fit joinery and exterior shutters/closures for the home.
The PORALU Group is a regional leader with recognised historical expertise offering custom-made Aluminium, PVC and Wood joinery for the home (windows, shutters, doors, gates, pergolas, etc.) in both the new construction and renovation markets. The Group has been highly successful for more than 30 years and has a broad customer portfolio including two production sites of more than 22,000 sq.m.
Through this acquisition, the HERIGE Group will significantly increase its production capacities and benefit from a wider geographical coverage in South-East France. With its strong culture of customer satisfaction and product quality, the integration of the PORALU Group will strengthen the HERIGE Group's growth potential, innovation and competitiveness in the joinery business.
The company has nearly 250 employees, generates full-year turnover of approximately €60 million, and has already made various investments to support its future growth.
Benoît Hennaut, Chairman of the Executive Board of HERIGE Group, said: “This acquisition, which will generate significant industrial and commercial synergies, will enable the Group to increase its footprint in the region and broaden its offering in the fast-growing home joinery market, supported by the RE 2020 and the acceleration of renovation work to increase energy performance in buildings.”
The transaction may be completed within the next three months. The Group will keep the market informed of the project’s progress.
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