The industry Bossard takes over the Ferdinand Gross Group
The fastening technology specialist Bossard is expanding in Germany. The takeover of the Ferdinand Gross Group is intended to significantly expand the company's presence in Eastern Europe.
15.10.2024, 06:31
SDA
The group is a fastening technology distribution company based in Leinfelden-Echterdingen, Germany, as Bossard announced on Tuesday. It employs around 260 people and operates sites in Hungary and Poland in addition to Germany. Ferdinand Gross is expected to generate sales of around 80 million euros in the current year.
The already strong market presence in Germany and Eastern Europe will thus be further expanded and customers can be served even more comprehensively, Bossard writes in justification of the acquisition.
"The planned takeover of the Ferdinand Gross Group not only brings together two companies with a long tradition, but also two strong partners who share common values and business philosophies - in the spirit of "Proven Productivity", CEO Daniel Bossard is quoted as saying in the press release.
The acquisition will be financed through the use of existing credit facilities. It is expected to be completed in the first quarter of 2025, but is still subject to regulatory approval and other customary closing conditions. Bossard did not disclose any further financial details.
