STEF Group acquires Nagel-Group’s operations in Italy, Belgium and the Netherlands
Under the terms of this transaction signed 12/11/2020, STEF Group will acquire five sites in Italy, Belgium and the Netherlands, with total turnover of approx. €95m and around 200 employees, subject to approval by the German competition authority.
Following this transaction, STEF Group and Nagel-Group will enter into distribution agreements – to enable Nagel-Group to make use, for its operations in Italy, Belgium and the Netherlands, of the distribution network of STEF Group; and to enable STEF Group to offer its customers in these countries improved distribution services in Germany and Central/Northern Europe.
Completion of the transaction is envisaged in January 2021.