Lafont sold to French Cepovett
During March 2016, Fristads Kansas Group sold Lafont to the French workwear and PPE group Cepovett.
Lafont is focused on designing, producing and selling workwear primarily for use within building & construction and industry in France. Lafont has an annual turnover of about 25 MEUR and around 90 employees in Villefranche-sur-Saône.
Cepovett is a family-owned workwear and PPE group with target groups and geographic focus that in many ways are similar to Lafont. The Group has grown organically and through acquisitions to a turnover of around 130 MEUR including Lafont. Cepovett is also based in Villefranche-sur-Saône in France.
“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. “Cepovett obviously has important synergies with Lafont, and I think the Cepovett group will be a good new home for Lafont 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.
The sale of Lafont will lead to a lower sales in Fristads Kansas Group by about 25 MEUR per year while profitability and margins are expected to improve.
For additional information please contact Anders Davidsson on telephone: +46 70 545 70 80.
Fristads Kansas Group is Europe’s largest professional wear group with many leading brands including Fristads Kansas, B&C, Wenaas, and Bragard etc. The group is active in design, production and marketing of professional wear for a variety of end-use segments and has strong market positions, especially in Northern Europe. The annual turnover of the group is around Euro 450 million and the head quarter is based in Borås, Sweden. For more information, please go to www.fristadskansasgroup.com.
• 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.
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