Majority shareholding in Italian manufacturer Saib
Growth through acquisition and expansion of know-how in the use of recycled wood: Egger acquires 60 percent of the shares in the Italian wood-based materials manufacturer Saib. The purchase agreement was concluded yesterday, December 15, 2022.
Saib, based in Caorso, near Piacenza, has been one of the leading wood-based materials manufacturers in Italy for 60 years, with a strong focus on design and sustainability. The majority shareholding by Egger opens up further growth and synergies in the globally active group of companies for the site with around 200 employees. With this acquisition, Egger is confirming its strategy of further growth in its home market of Europe.
Two family-owned companies, founded almost at the same time, with common values regarding sustainable business and reliable partnerships: Egger’s stake in Saib is an ideal combination and offers great development potential for both companies. The Egger Group is taking over 60 percent of the shares in Saib. In the long term, Egger will potentially increase its stake further. The parties have agreed not to disclose the purchase price or further details of the transaction.
Thomas Leissing, spokesman for Egger Group Management, emphasizes the synergies of the takeover: “Italy is one of the leading furniture-producing countries in Europe, and Saib is one of the leading suppliers to the Italian furniture industry. By acquiring a majority stake in Saib, we are broadening our market access, increasing our capacity and adding Italian design expertise to our product portfolio.”
Members of Saib’s owning family Giuseppe Conti, Clara Conti and Sergio Doriguzzi will continue to manage the Caorso site. “The integration of our company into the international Egger Group gives us a growth perspective for the Caorso site and our employees,” says Clara Conti, explaining the company’s share sale.
“We will be able to benefit from the experience and network of a leading group that has always focused on optimizing production and product quality,” say Sergio Doriguzzi and Giuseppe Conti. “Both companies were founded and developed by families and share common values, such as attention to environmental sustainability and trust in their employees and workers. This is a solid basis for building a common future that will be characterized by continuity and innovation.”
The experienced team of 223 employees in Italy will be instrumental in supporting this joint growth course and will contribute their experience to the Egger Group. In particular, the sustainable, circular production processes pay off ideally in terms of the Egger Group’s sustainability goals. The plant has been using only post-consumer recycled wood in production since 1994.
About Saib: Saib is one of the leading manufacturers and distributors of wood-based products in Italy. The third-generation family-run company, with 223 employees, produces around 600,000 cubic meters of raw and coated particleboard at its Caorso (IT) site, supplying mainly the Italian furniture industry with innovative and high-quality design products. Saib is a leader in the circular economy and has been using 100 percent recycled wood in its production for almost 30 years.