Ferretti Group acquires two historical suppliers
by Ferretti Group 29 Sep 2022 22:11 NZDT
Ferretti Group CEO Alberto Galassi © Federico Ferretti
Ferretti Group announces the acquisition of the majority stake of two companies that are part of its supply chain: Masello Srl and Fratelli Canalicchio SpA.
Massello Srl, based in Fano, is a company with extensive experience in wooden furniture for yachts and has recently launched an innovative on-board assembly service. Fratelli Canalicchio SpA, based in Narni, is specialized in static exteriors and automatic kinetic systems for yachts.
As of 2021, the combined revenues of the two companies will amount to approximately € 13 million. As a result of the integration with the Ferretti Group, the two companies are expected to generate sales of approximately € 30 million by 2025.
The two transactions, in line with the Group's strategy, are aimed at improving overall profitability and gaining even more control over the production and procurement phases.
"We have finalised these two transactions because the acquisition of control of a strategic supplier ensures stability and reliability, improves industrial performance and insourcing of expertise. We are confident that the upstream integration will allow us to express even more quality and optimise costs and time," said Alberto Galassi, CEO of Ferretti Group.