Briolf Group acquires aerosol paints manufacturer Areco Italia
Areco specialises in the development and manufacture of aerosol paints for multiple sectors such as decoration, DIY and industry, with more than 50 years of experience, located in Abbiategrasso, (Lombardy). With the transaction, Briolf will incorporate revenues in excess of EUR 31 million, based on forecasts for 2022. The Group is therefore continuing its commitment to non-organic growth, initiated with the acquisition of the Italian company Impacar in February. These acquisitions, together with an ambitious expansion and organic growth plan, is intended to enable the company to double its turnover in the next years as envisaged in strategic plan launched by the company this year.
“Quantitative and qualitative leap forward”
Briolf Group expects to close 2022 with organic growth of more than 20% and to achieve a revenue of EUR 220 million following the integration of Areco. The Group’s management believes that with this acquisition “we are making an important quantitative and qualitative leap forward, since it provides a very significant volume of business in a sector that we consider to be key and, at the same time, strengthens our commitment to sector and geographic diversification, an element that is central to the Group’s philosophy”.