KIRCHLENGERN, Germany — The Hettich Group from Germany intends to acquire all shares of the Italy-based FGV Group, which manufactures furniture hardware, including hinges, drawers, slides, hanging brackets, alternative openings, and sliding systems. The completion of this deal is subject to approval from antitrust authorities, and the financial details of the merger have not been disclosed.
Following the merger, Hettich and FGV plan to leverage each other's strengths to continuously develop their existing business activities and provide added-value solutions to their customers. Dr. Andreas Hettich, shareholder and Chairman of the Advisory Board of the Hettich Group, expressed enthusiasm about the collaboration, stating, "We – Hettich and FGV – are two family-owned companies with a long history in the furniture fittings industry. We look forward to moving into the future together soon, learning from each other, and becoming even more powerful together, with a steadfast commitment to client interest and satisfaction."
Renato Formenti, Chairman of the Board of FGV, also voiced optimism, saying, "Hettich is a world market leader that, like us, has a great deal of experience in furniture fittings. FGV would like to bring its know-how and flexibility together with the Hettich Group as soon as possible to foster successful joint development and ensure a bright future for FGV's management and employees."
Despite the merger, both Hettich and FGV will remain independent brands and companies within the larger Hettich Group. This means that customers of both companies will continue to interact with their familiar contacts even after the merger, ensuring that customer service remains uninterrupted. The experienced management teams at Hettich and FGV are committed to maintaining the necessary continuity and fostering ongoing joint development.
In a joint statement, Silvana Riboldi, head of sales at FGV, and Uwe Kreidel, managing director of sales and marketing at Hettich, assured customers, saying, "We will collaborate closely behind the scenes in the future. Our customers will continue to receive service from their established contacts, each of whom they know and value."