Nobia acquires Dutch kitchen supplier

Acquisition marks expansion into adjacent markets

17 Jul, 18

Swedish kitchen furniture group Nobia has acquired Dutch kitchen supplier Bribus Holdings, which has a turnover of €65million

Established 90 years ago, Bribus supplies kitchens to social housing providers and large-scale property investors and offers a full-service including installing and appliances.

Bribus Holdings manufactures kitchens in a factory in the Dinxperio in the eastern part of the Netherlands and employs around 270 members of staff.

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Nobia has acquired the business from Bernhard ten Brinke, who will remain with the company, for €60million on a cash and debt-free basis.

The acquisition also includes a variable consideration of a maximum of €5million, conditional upon business performance until 2020.

President and CEO of Nobia Morten Falkenberg commented on the Bribus buyout: “This acquisition is the first step in our growth strategy to expand to attractive and adjacent kitchen markets.

“Bribus has a strong offer and a number one position in the Dutch project market for kitchens, and we see good growth potential and opportunities for further expansion.”

The Nobia Group includes Magnet, Ewe and Intuo brands, employs 6,100 people worldwide and has net sales of SEK 13billion.