The HERIGE Group announced today that it has finalized its acquisition of 100% of the share capital of PORALU Group, which manufactures custom-fit Aluminum, PVC and Wood joinery and shutters/closures.
PORALU Group will join ATLANTEM, the Joinery subsidiary of the HERIGE Group, to create a leading French industrial manufacturer of joinery and exterior shutters/closures for buildings.
PORALU Group is a leading player with recognized historical expertise, offering custom-made Aluminum, PVC and Wood windows, shutters, doors, gates and pergolas for the home in both the new construction and renovation markets. With its strong culture of customer satisfaction, PORALU Group has been recognized for more than 30 years for the quality of its products and services. Comprising nearly 250 employees, the Group has a broad customer portfolio and scalable manufacturing facilities, including one stacker crane, 17,000 sq.m. of production floor space and 5,000 sq.m. in storage capacity for finished products.
PORALU Group is projected to generate turnover of approximately €60 million in 2022.
The integration of PORALU Group will strengthen the HERIGE Group's Joinery business' growth potential, innovation and competitiveness, thanks to:
- the extension of its geographical network with an industrial footprint in Wood, PVC and Aluminum joinery, thereby consolidating and optimizing its national coverage;
- the acquisition and specialization of a new modern and high-performance site with an annual production capacity exceeding 110,000 units;
- expertise in tertiary and collective building sites through the addition of a dedicated team.
The newly merged entity, which will generate significant synergies, will enable HERIGE to increase its footprint in a fast-growing market, supported by the RE 2020 and the acceleration of renovation work to increase energy performance in buildings.
Benoît Hennaut, Chairman of the Executive Board of HERIGE Group, said: “We are delighted to welcome the PORALU team, with whom we share the same community values and the same vision of responsible business. Through this acquisition, which fits perfectly into our strategy, HERIGE is positioning itself as a leading manufacturer to build profitable and sustainable growth by offering solutions for more energy-efficient homes.”
The acquisition was financed partly through cash and partly through a loan, drawing on HERIGE's existing cash and credit facilities.
PORALU Group will be consolidated within the Group's financial statements with effect from December 1, 2022.
Next publication: Q4 2022 turnover on February 7, 2023 (after the close of trading)
All our financial communications are available on our website: www.groupe-herige.fr/en
HERIGE Group focuses on three sectors of the building industry: Building Materials Trading, the Concrete Industry and Industrial Joinery. Originally based in the Vendée region, HERIGE currently employs around 3,000 people and has a strong presence in Western France.
HERIGE is listed on Euronext Growth
Indices: EURONEXT FAMILY BUSINESS, EURONEXT GROWTH ALL SHARE, ENTERNEXT©PEA-PME 150
ISIN FR0000066540, Ticker: ALHRG, Reuters ALHRG.PA
Benoît Hennaut – Chairman of the Executive Board
Caroline Lutinier – Head of Group Communication & CSR
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