Briolf Group acquires aerosol manufacturer Areco Italia
With the addition of one of the leaders in the sector, the Group now ranks its aerosol paint division among the top three European manufacturers
Spain, November 29, 2022. The Catalan corporate group Briolf, comprising several industrial companies in the field of specialty chemicals, has just made public the agreement through which it has acquired 100% of ARECO ITALIA spa.
ARECO specializes in the development and manufacture of aerosol paints for multiple sectors such as decoration, DIY and industry, with more than 50 years of experience, located in Abbiategrasso, (Lombardy).
With this transaction, Briolf will incorporate revenues in excess of €31 million, based on forecasts for 2022.The Group is therefore continuing its commitment to non-organic growth, initiated with the acquisition of the Italian company IMPACAR srl in February. These acquisitions, together with an ambitious expansion and organic growth plan, will enable the company to double its turnover in the next years as envisaged in strategic plan launched by the company this year. AZ Capital has advised Briolf on the financing of the process.
The Group's management believes that with this acquisition "we are making an important quantitative and qualitative leap forward, since it provides a very significant volume of business in a sector that we consider to be key and, at the same time, strengthens our commitment to sector and geographic diversification, an element that is central to the Group's philosophy".
The company states that this increased presence in more countries and sectors "makes us more solid in the long term and protects us from the difficulties that different economic cycles can cause. At a difficult time for the national and international economy, this model allows us to continue to grow abroad, while strengthening and generating value in all the companies we have in our country. Our team continues to grow and this makes us very proud".
Briolf Group expects to close 2022 with organic growth of more than 20% and to achieve a revenue of €220 million following the integration of ARECO.