Bossard set to acquire Germany's Ferdinand Gross Group

ZUG - The Bossard Group, a prominent player in fastening technology, has announced its intention to acquire the Ferdinand Gross Group, a leading German distributor in the same sector. This acquisition, expected to close in the first quarter of 2025, is pending regulatory approval and customary closing conditions.

The Ferdinand Gross Group, based in Leinfelden-Echterdingen, Germany, marks its 160th anniversary this year and employs approximately 260 people. With operations extending to Hungary and Poland, the company is poised to achieve net sales of about EUR 80 million for the current financial year.

Bossard's CEO, Daniel Bossard, expressed enthusiasm about the acquisition, highlighting the shared traditions and values between the two companies. He emphasized the synergy of the merger, which aligns with Bossard's philosophy of "Proven Productivity."

Gerald Hering, the Managing Director of Ferdinand Gross and a fifth-generation leader of the company, echoed this sentiment. He stated that the merger would leverage the strengths of both entities to accelerate growth and expand the range of products and services offered to customers, without compromising the quality of service.

The acquisition is strategically poised to enhance Bossard's market presence in Germany and Eastern Europe. By integrating with Bossard Germany, a leading distributor specializing in customized fastening technologies, the combined entity is expected to offer more comprehensive services to its customers in the region.

The financial aspects of the deal will be managed through existing credit facilities, according to the press release statement. This move is a significant step for Bossard as it continues to expand its footprint in the fastening technology industry.

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Source: Investing.com