Fiskars Group has received a binding offer from MOB MONDELIN to acquire the Leborgne branded business
Fiskars Corporation
Press Release
January 15, 2019 at 12:30 EET
Fiskars Group has received a binding offer from MOB MONDELIN to acquire the Leborgne branded business
Fiskars Group has received a binding offer for the purchase of its Leborgne business consisting of manufacturing and sale of hand tools to construction and gardening customers in France from MOB MONDELIN. The transaction would be structured as an asset sale and include the Leborgne brand, inventory, fixed assets and personnel working for the business.
“Fiskars Group’s global strategy is to focus on consumer goods and build iconic lifestyle brands, with the purpose of making the everyday extraordinary. Professional tools targeted for the construction industry is not part of our core portfolio. I am confident that with the new ownership, Leborgne would be able to leverage its full potential and continue to innovate and design products for masons, craftsmen and other professionals”, said Jaana Tuominen, President and CEO, Fiskars Group.
“With two centuries of history, Leborgne is a top brand on the French market of professional hand-tools, recognized for its premium quality and its visionary innovations, built on the skill of its local factory. Those characteristics are a perfect match with our values”, said Thibaut Moulin, President of MOB MONDELIN.
The Leborgne business employs approximately 70 people and its net sales amounted to approximately 12 million euros in 2018. The contemplated sale is not expected to have a significant impact on Fiskars Group’s net sales and EBITA during 2019.
Fiskars has started an employee consultation process in accordance with the local laws and regulations.
MOB MONDELIN
The MOB MONDELIN Group manages a portfolio of premium brands of hand-tools for professionals, operating factories in France, Germany and Romania. The group has around 400 employees and net sales of approximately 60 million euros.
Leborgne
Established in 1829, Leborgne is a French specialist in hand-held construction tools for professionals. The products consist of hand tools for bricklaying and construction, tools for framing and building wood houses, tools for groundwork and roadwork, and tools for logging and splitting wood. Leborgne was acquired by Fiskars Group in 2007 and has been reported as part of the Fiskars Group’s Functional segment.
FISKARS CORPORATION
Corporate Communications
Media and investor contacts:
VP, Corporate Communications and Sustainability Maija Taimi, tel. +358 204 39 5031
communications@fiskars.com
Making the everyday extraordinary
Fiskars Group’s purpose is to make the everyday extraordinary. With our family of lifestyle brands including Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood, we want to create a positive, lasting impact on our quality of life. Our products are available in more than 100 countries and we employ around 7,900 people in over 30 countries. Please visit us at www.fiskarsgroup.com for more information.