Cosmetal acquired by Celli Group
October 30, 2016
On 18th October, the Celli Group, one of Italy’s leading manufacturers of beverage dispensing equipment and accessories, announced the purchase of 100% of shares in Cosmetal.
Long time member and supporter of Watercoolers Europe, Cosmetal is based in Italy’s March region, employing in excess of 70 people with a turner of €13.5million (2015), 70% of which is represented by exports primarily to Europe, the US and North Africa.
The takeover of Cosmetal is part of the Celli Group’s plan for growth, with the aim to consolidate its position not only in its classic market but in water as well, a business where the Celli Group is already present with its Alma division.
In the current year, thanks to this takeover, the Celli Group will reach a turnover of €80 million, as compared to the current figure of €65million, with the goal of reaching €100 in the next three years. The number of employees will grow to almost 300.
“The acquisition of Cosmetal has a particular strategic importance for our Group” commented Celli Group CEO Mauro Gallavotti, “as it allows us to reach a prominent position in the dynamic, rapidly growing water dispenser market, by bringing together two well-established Italian companies and developing important commercial and industrial synergies”.