Italian beverage dispensing equipment manufacturer Celli Group has purchased 100% of the shares in Cosmetal, an Italian and European leader in the production of drinking water dispensing systems.
Cosmetal, which is based in Italy’s eastern Marche region, employs around 70 people and had a turnover of €13.5 million in 2015, 70% of which was represented by exports – primarily to Europe, the US and North Africa.
The takeover of Cosmetal is part of Celli Group’s plan for growth, with the aim to consolidate its leading position in its traditional market but also in water dispensing, a business where the Celli Group is already present with its Alma division.
In the current year, thanks to the takeover of Cosmetal, the Celli Group will reach a turnover of €80 million, compared to the current figure of €65 million, with the goal of reaching €100 million in the next three years. The number of employees will grow to almost 300.
Celli Group CEO Mauro Gallavotti said: “The acquisition of Cosmetal has a particular strategic importance for our group, as it allows us to reach a prominent position in the dynamic, rapidly growing water dispenser market by bringing together two well-established Italian companies and developing important commercial and industrial synergies.”
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