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28th January 2021
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Roca and Royo sign alliance to create a world leader in bathroom furniture
Roca Group has signed the acquisition of a 75% stake in Royo Group, a European leader in the field of bathroom furniture. Roca has purchased 62% of the company from the American fund HIG and the Royo family will continue to hold 25% of the firm’s capital.
Royo Group owns three production plants in Spain and Poland and two innovation centres. The company manufactures around one million pieces of bathroom furniture annually, with a turnover of 95 million euros in 2019 and a workforce of 793 people.
With this operation, Roca Group and Royo create a world leader in bathroom furniture, with a global turnover of over 173 million euros in this segment and a production of close to two million units per year in nine production centres located in Spain, Portugal, Poland, Czech Republic, Russia, China and Brazil. Additionally, Roca Group is consolidating its leadership in the creation of bathroom spaces, increasing its market share in an activity that complements sanitary tile. Roca Group has been advised by Alantra and Broseta in this transaction, which is pending approval by the German and Polish competition courts.
As part of Roca Group’s strategy to set up specialised centres of expertise for different product categories within the bathroom space, Royo Group will become the hub for the development of the furniture segment for Roca Group, while continuing with the commercial development of its brands.
“With this alliance, we reinforce the bathroom furniture category, key in our sector, with the European leader with whom we share the business vision and with whom we have collaborated closely over the last 10 years,” explains Albert Malgrans, CEO at Roca Group.
“This merger will allow us to further increase our competitiveness in the bathroom space and achieve the world’s leadership in this segment.”
Raúl Royo, CEO at Royo Group, highlights the fact that this is a great strategic alliance through a joint venture between the two companies, that reinforces the maximum possible commitment between both parties:
"The agreement with Roca, one of the largest Spanish industrial groups and a leader in the bathroom business worldwide, will help us to jointly build an even more leading and innovative company, accumulating almost 150 years of history in the bathroom sector between the two families", he says.
28th January 2021