Terratinta Group, a company specialising in design surfaces based in Fiorano Modenese in the heart of the ceramic district, has become part of the Italcer Group, the company has announced.
This deal marks Italcer’s ninth acquisition domestically in Italy and abroad in six years, reportedly bringing the group’s turnover close to €400m (£345.7m) by the end of 2023. These include LA FABBRICA AVA, Elios Ceramica, Devon&Devon, Ceramica Rondine, Cedir, Spanish company Equipe Cerámicas, Ceramica Fondovalle S.p.A. and Opificio Ceramico.
Graziano Verdi, CEO and co-founder of the Italcer Group, said: “The transaction is consistent with our project to create a design hub by grouping together high-end ceramic companies, and Terratinta, with Luca and Marco, will further strengthen this unique quality of ours. In addition, important investments in innovation and ESG will allow Italcer to continue growing steadily and solidly in the coming years.”
The operation sees Luca Migliorini, the current CEO and shareholder of Terratinta, become a shareholder of Italcer, with a stake of around 1%. Migliorini said: “Terratinta Group has marked out on a new path in the ceramics industry, under the banner of professionalism, ethics and passion for the product. These 15 years have been an incredible journey. Thanks to the determination of the entire staff and the contribution of my brother Marco, we have succeeded in projecting our reality into an innovative dimension: from an office of 40 square metres to a BCorp that reaches over 50 markets worldwide. We share the same values and a joint vision of the future with Italcer: sustainable growth for all our brands driven by technological innovation”.
As declared to Il Sole 24 Ore (the Italian financial paper of record) by Verdi: “The goal for next year is to source 50% of electricity consumption through the use of renewable energy, firstly with photovoltaics and, as soon as it will be possible, with hydrogen by using one kiln already installed.”