Franke Group acquires Wesco
The Franke Group acquires the Swiss Wesco Group, thereby expanding its core competence in the field of air quality technology and strengthening its market position in Switzerland and Germany.
The Swiss Franke Group, headquartered in Aarburg, has concluded a purchase agreement to acquire 100% from the Wesco Group, a premium manufacturer of high-quality extractor hoods and ventilation systems in Switzerland and Germany. Completion of the transaction is still subject to approval by the relevant competition authorities. Financial details of the transaction will not be disclosed.
Wesco AG, a subsidiary of the Wesco Group, is a recognized expert for extractor hoods and air filtration in homes, schools and offices in Switzerland. berbel Ablufttechnik GmbH, the Group's German subsidiary, is a leading brand for extractor hoods and cooktop extractors in Germany. In the 2022/2023 financial year, the Wesco Group generated net sales of 97 million Swiss francs and employed a total of 280 people.
Strong brands unite under Franke Home Solutions
The Wesco Group becomes part of Franke Home Solutions, a division of the Franke Group and the world's leading provider of intelligent systems and solutions for the home kitchen.
The acquisition of the Wesco Group offers the Franke Group the opportunity to strengthen its position in the market for extractor hoods and to gradually achieve a leading position in Germany and Switzerland. With its Wesco and berbel brands, the Wesco Group is strongly represented as a premium supplier on the Swiss and German markets for extractor hoods and complements and strengthens Franke's offering both geographically and strategically. The berbel brand in particular is known in Germany, the largest European market, for its unique technical solutions, outstanding workmanship and design.
Barbara Borra, CEO of Franke Home Solutions, comments: "The acquisition of Wesco is an ideal strategic fit for us. Wesco brings advanced air quality technology and a strong distribution network in Switzerland and Germany to our company. By leveraging Franke's global reach and financial strength, we can support Wesco's growth both in its traditional markets and internationally. In Wesco, we have found a company that shares our values in terms of quality, technology and innovation."
Beat Ernst, owner of the Wesco Group, explains: "As part of a succession plan, I have decided to sell my company to Franke. As there is no succession in our family environment, it was important to me to find a sustainable solution to hand over our life's work into good hands. Franke has the necessary expertise and resources to fully exploit the potential of our brands and position them even more successfully on the market."
Source: www.franke.com
