Hettich Group has completed the acquisition of FGV Group, announced at the beginning of September, after the necessary approvals by the antitrust authorities and the fulfilment of all other conditions. The two companies are now ready to build their future in the furniture components sector.
Shaping the future together
Hettich and FGV are characterised by their long-term vision, experience in the furniture fittings industry, presence in the same target market and close relationships with their customers. Jana Schönfeld, Managing Director of the Hettich Group, emphasises: "We are two family-owned companies with a combined experience of more than 200 years. And together we are now more than 9,000 colleagues worldwide who use all their energy, passion and ideas to achieve the best for our customers every day. These similarities have inspired and convinced us to want to shape our future together."
Jana Schönfeld, Managing Director of the Hettich Group
Developing activities in synergy
The Hettich Group is now a 100 per cent shareholder in the FGV Group; within the Group, Hettich and FGV will remain independent brands and companies, and customers of both companies will retain their established contacts.
"The two companies," says Andreas Hettich, shareholder and Chairman of the Advisory Board of the Hettich Group, "will complement each other's strengths to continuously develop their existing business activities and offer their customers even better value-added solutions.
Andreas Hettich, Chairman of the Advisory Board of the Hettich Group
Maintaining identity with different brands
The established FGV management team will be joined by Uwe Kreidel as CEO with immediate effect. In addition to his 30 years of management experience in the industry and at Hettich, Uwe Kreidel will contribute his knowledge of the Italian market, gained through his role as Regional Director for Hettich Italy.
Uwe Kreidel new CEO of FGV Group
'The Formenti e Giovenzana Group,' comments Uwe Kreidel, 'is a company with many excellent employees. I am looking forward to contributing to the growth of FGV and Hettich together with all my colleagues. We will bring together our different skills and experience and develop them successfully, while maintaining our identities as independent brands'.
Special thanks go to Silvana Riboldi, Head of Sales at FGV, and Giulia Luigetti, CFO of the FGV Group, who acted as interim CEO during the transition from the previous to the new shareholders for making a significant contribution to the success of the process.
In the opening photo: FGV and Hettich management team representatives with Dr Andreas Hettich and the outgoing shareholders of Formenti and Giovenzana and their families.