Economics by Tile International
Italcer Group acquires historic ceramic manufacturer Cedir
Italcer Group, which comprises a range of high-end Italian ceramic and bathroom furnishing brands, has 530 employees and generates consolidated revenues of over 200 million euros, has struck a deal to acquire 100% of the historic company Cedir, based in Castel Bolognese. Established in 1968, the company, with headquarters in the province of Ravenna, has been designing and manufacturing porcelain ceramic floor and wall coverings for over 50 years, by combining traditional ceramic craftsmanship with the most innovative design.
With production capacity of three million square metres, Cedir has 60 employees, all of whom will be absorbed into the staff of Italcer, thus keeping their jobs and remaining at their normal place of work. The acquisition is a perfect fit for the strategy and vision of the Group, which is currently the sixth-largest player in the Italian ceramic industry. Having built itself up step by step over the course of three years, the Group now operates through high-profile brands and historic manufacturers, which produce top-quality products for interior and exterior applications, with a special focus on high-end residential and non-residential ceramic tiles and luxury bathroom furnishings.
“The acquisition of the historic company Cedir,” explains Graziano Verdi, CEO of Italcer Group, “will help underpin the Group’s growth, by extending its access to 100% Italian quality and creativity, through a company that pays close attention to the needs of the various markets. The main goal of our integrated business model,” continues Verdi, “is to create a cluster of top-end ceramic floor and wall covering brands, and we are channelling all our efforts in this direction.”
The hub created in 2017 by top manager Graziano Verdi, in partnership with Alberto Forchielli and Lorenzo Stanca of Mandarin Capital Partners, also has its sights set on international expansion. In addition to Europe, and particularly Spain, it is focusing on the American market, where Italian brands are thriving. More specifically, it is targeting the state of Tennessee, where several substantial operations are already up and running, with a view to setting up an Industry 4.0 facility for large-format panels.