BRAGARD SOLD TO AMERICAN GROUP CHEF WORKS
End of January 2020, Fristads Kansas Group sold Bragard to the American Group Chef Works.
Bragard is focused on designing, producing and selling workwear primarily for use within the hotel, restaurant and catering (HORECA) sector, mainly in France and neighbouring European countries. Bragard has an annual turnover of about 30 MEUR and is based in Epinal, France.
Chef Works is a family-owned group specialized in professional wear for the HORECA sector. The Group has grown organically to a global turnover in excess of 100 MEUR. It is the market leader in the United States and has a well-developed distribution network covering more than 80 countries. Chef Works is based in San Diego, California.
“I’m very pleased with this deal and I believe it is a good transaction for all involved parties”, says Anders Davidsson, the CEO of Fristads Kansas Group. “Bragard is a well-known brand within the HORECA sector and, at the same time, I’m convinced that Chef Works will be able to contribute positively in many ways to Bragard’s continued development. I really think the Chef Works Group will be a good new home for Bragard and its employees.”
“For Fristads Kansas Group the key benefit is that we now can focus even more of our time and resources on developing our remaining portfolio of great, international workwear brands”, Anders Davidsson concludes.
4 February 2020
• Successful turnaround of the Group with positive net income in 2016
• Re-introduction of Fristads as stand-alone workwear brand
Fristads Kansas, one of the largest workwear brands for construction and industry, reports a growth of 6 percent for the full year 2015. Operating profit (EBIT) amounted to 5.9 MEUR and Fristads Kansas maintained strong market positions in its home markets Sweden and Denmark, and grew in a number of other markets. At the same time, the Fristads Kansas Group, showed a strong positive trend.
During March 2016, Fristads Kansas Group sold Lafont to the French workwear and PPE group Cepovett.
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