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Announced last September, the acquisition by Hettich – a German family group specialized in the production of components and hardware for the furniture sector, with over 8 thousand employees in almost 80 countries – of 100% of the Italian Formenti group has reached the closing. & Giovenzana, manufacturer of furnishing solutions and accessories with an offer that includes hinges, drawers, guides, alternative openings, sliding systems and innerware products.
Both Hettich and FGV will remain independent brands and companies within the Hettich group, which will thus become an international player with over 9 thousand employees, as well as one of the largest in the furniture components sector.
«We are two family-run companies with long experience – commented Jana Schönfeld, CEO of the Hettich Group -. Together we now have more than 9 thousand colleagues around the world.” Hettich and FGV will complement each other to develop business activities, added Andreas Hettich, shareholder and chairman of the Advisory Board of the Hettich Group, now 100% shareholder of the FGV Group.
Uwe Kreidel will be the new CEO of the FGV group: «We will bring together our different skills and experiences and develop them successfully, maintaining our identities, as independent brands», he commented.
Founded in 1947 in the heart of Brianza, in Veduggio con Colzano, FGV is today present on all continents with six production sites and seven distribution sites together with a network of over 70 distributors. In 2022, Formenti & Giovenzana recorded consolidated revenues exceeding 250 million euros, with over 80% of turnover generated outside Italy.