PRESS RELEASE 23 June 2021
LIFCO ACQUIRES DVG DE VECCHI SRL IN ITALY
Lifcohas signed an agreement to acquire a majority of the shares in DVG De Vecchi Srl.
The company is a leading manufacturer and distributor of components for coffee machines.
DVG De Vecchi has 39 employees and reported net sales of approximately MEUR 16 in 2020. The company is based closed to Milan, Italy. DVG De Vecchi will be consolidated in Business Area Systems Solutions, division Service and Distribution. Consolidation is expected to take place in July, 2021.
The acquisition will not have any significant effect on Lifco's earnings or financial position in current financial year.
Please visit www.devecchigiuseppesrl.comfor more information.
For more information please contact:
CEO and President Lifco
Media and investor relations manager Phone +46 730 244 872, e-mail email@example.com
Lifco offers a safe haven for small and medium-sized businesses. Lifco's business concept is to acquire and develop market-leading niche businesses with the potential to deliver sustainable earnings growth and robust cash flows. Lifco is guided by a clear philosophy centred on long-term growth, a focus on profitability and a strongly decentralised organisation. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. At year-end 2020, the Lifco Group consisted of 175 operating companies in 31 countries. In 2020, Lifco reported EBITA of SEK 2,702 million on net sales of SEK 13.8 billion. The EBITA margin was 19.6 per cent. Read more at www.lifco.se.
Lifco AB (publ)
Verkmästaregatan 1, SE-745 85 Enköping
Org nr 556465-3185 www.lifco.se