Brands will remain autonomous with key management still in place
Polish household appliance manufacturer Amica Wronki has acquired Nottinghamshire-based CDA Group for £24.3million, to strengthen its position in Western Europe.
It is Amica’s largest acquisition in the company’s 70-year history and the payment will be made in three stages, up until 2017, with the first payment made today, December 1, 2015.
President of the Board of Amica Wronki, Jacek Rutkowski commented: “With the purchase of CDA, we are strengthening the position of the Amica Group in Western Europe. This transaction guarantees us four times higher sales in the UK and Ireland and 10% increase in revenues of the Amica Group, excluding future synergies.”
Amica’s sales in the UK and Ireland have increased 20% on a year-to-year basis over the first three quarters of 2015. Last year, Amica had a turnover of £13million, doubling its revenues from 2013.
CDA, which employs nearly 200 staff and has its own distribution centre and transport fleet had a turnover of £43million in revenue for 2014/15.
Both brands will be autonomous with their own products, separate distribution channels and key management will remain with both Amica and CDA brands.
This is the second acquisition for Amica this year, which purchased shares in the French distributor Sideme. Amica Wronki has sales in 50 markets, which generates 70% of its revenue and in 2014, it achieved a turnover of £390million.