Briolf Group Acquires Italian Aerosol Manufacturer

MONDAY, DECEMBER 12, 2022


Chemical manufacturing company Briolf Group, comprising several industrial companies in the field of specialty chemicals, recently announced that it has acquired Italian aerosol manufacturer Areco Italia spa.

Located in Abbiategrasso, Areco reportedly specializes in the development and manufacture of aerosol paints for multiple sectors such as decoration, DIY and industry for over 50 years.

Briolf 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.”

According to the release, Briolf anticipates incorporating revenues in excess of 31 million euros (about $32.7 million) with the transaction, based on forecasts for 2022. It reports that it is continuing its commitment to non-organic growth, initiated with the acquisition of the Italian company Impacar srl in February.

Both acquisitions, with an expansion and organic growth plan, will reportedly enable the company to double its turnover in the next years as predicted in a strategic plan launched by the company this year. 

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,” wrote Briolf. “Our team continues to grow and this makes us very proud.”

Additionally, Briolf Group expects to close out this year with organic growth of more than 20%, achieving a revenue of 220 million euro following the integration of Areco. AZ Capital advised Briolf on the financing of the process.

   

Tagged categories: Acquisitions; Aerosol coatings; Asia Pacific; Briolf Group; Business management; Business matters; Business operations; Coatings; EMEA (Europe, Middle East and Africa); Industry News; Latin America; North America; Program/Project Management; Z-Continents

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