Cleaf and Egger, two manufacturers globally active in the sector of surface materials for furniture and interior design, enhanced their co-operation, with the signing of an acquisition agreement in September (expected to close this month), in which the Austrian Egger Group will acquire a 27.5% stake in the Italian Cleaf.
Cleaf and Egger entered into a partnership about a year ago as an expression of a common vision and mutual respect between the two family businesses. As previously announced, the sales partnership will now be followed by the next step – Egger will acquire a minority stake of 27.5% in Cleaf. The parties agreed not to disclose the value of the transaction.
“We have always pursued the vision of broader co-operation. Our co-operation in sales has shown that together we can offer our customers the best of two worlds,” comment both companies. The majority shareholding in Cleaf will continue to be held by the Caspani family. Egger emphasises that it does not intend to acquire a majority stake in Cleaf in the future.
Successful sales partnership
About a year ago, the two companies announced the ‘Cleaf presented by Egger’ collection for six European markets. Since its launch together with the Egger Decorative Collection in February 2020, customers in Germany, Austria, Switzerland, Poland, the Czech Republic and Slovakia have shown great interest in this range. The two companies also presented themselves at the Euroshop in February in Düsseldorf, on directly connected exhibition stands.
In February this year, Cleaf and Egger presented together at Euroshop in Düsseldorf