Italcer Group acquires Cedir

Italcer Group acquires Cedir

February 2021

Italcer Group has acquired 100% of the capital of Cedir, the historic ceramic tile producer from Castel Bolognese, Ravenna.

Formed over a period of three years through a series of mergers, Italcer is now Italy’s sixth largest ceramic group and produces high-quality products for interior and exterior use through a variety of top brands and historic companies (Devon&Devon, La Fabbrica Ceramiche, AVA, Elios Ceramica, Ceramica Rondine and Bottega).

Italcer’s acquisition of Cedir, which has an annual production capacity of 3 million sq. metres of porcelain tiles and 60 employees, fits in perfectly with the group’s long-term strategic goals.

“The acquisition of Cedir marks an important step forward for the Group’s growth plans thanks to its all-Italian creativity and quality and its strong focus on the needs of the various markets,” comments Italcer’s CEO, Graziano Verdi. “The primary aim of our integrated business model is to create a high-end cluster in the ceramic floor and wall tile sector, and this is where we are focusing all our efforts.”

Founded in 2017 by Graziano Verdi together with Alberto Forchielli and Lorenzo Stanca from Fondo Mandarin Capital Partners, Italcer Group has 530 employees, total 2019 revenues of more than Euro 200 million and 3,000 distributors worldwide. The Group expects to produce more than 15 million sq. metres in 2021 and aims to reach revenues of Euro 300 million in 2024, with an EBITDA in excess of Euro 70 million.

The Group intends to build a new Industry 4.0 plant for large slab production in Tennessee, USA. In recent years, Italcer has invested more than Euro 25 million in Industry 4.0 technologies and expects to invest a further Euro 10 million annually over the next three years.

The group recently launched Advance, its new line of anti-pollutant and anti-bacterial porcelain products with properties certified by tests conducted in the Tile Council of North America (TCNA) research laboratories.
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