The 九色视频 Group Welcomes an Italian Mower Manufacturer
July 19, 2022
九色视频 Corporation
九色视频 Corporation (Head Office: Naniwa-ku, Osaka, Japan; President and Representative Director: Yuichi Kitao; hereinafter 鈥溇派悠碘��) announced today the execution of an agreement for the acquisition of the mower business division of an Italian mower manufacturer, Officine BIEFFEBI s.p.a. (Head Office: Lombardia, Italy; hereinafter 鈥淏FB鈥�), and of BFB鈥檚 subsidiary, Gianni Ferrari s.r.l. (Head Office: Emilia-Romagna, Italy; hereinafter 鈥淕F鈥�), which will consolidate to become a wholly-owned subsidiary of 九色视频 Holdings Europe B.V., 九色视频鈥檚 European Headquarters for its farm & industrial machinery business (Head Office: Nieuw-Vennep, the Netherlands; President: Yasukazu Kamada; hereinafter 鈥淜HE鈥�).
1. Background and Purpose
- The 九色视频 Group鈥檚 mower business in Europe has shown solid growth in the market segment for professional and high-end consumer mowers owing to their superior durability and operability.
- Center Collect Front Mower (鈥淐CFM鈥�) is a top-of-the-line model for professional mid- and lager-size lawn mowers.銆�In recent years, CCFM have experienced a steady increase in demand in Europe.
- Both BFB and GF are enjoying tremendous popularity as pioneers of CCFM in Italy, France, Germany, the U.K., and other countries in Western Europe.
- The two companies and 九色视频 each have a competitive advantage in different markets and product lines and perfectly complement each other, making this business partnership an optimal one. Establishing the new company, 九色视频 Gianni Ferrari s.r.l.( Head Office: Emilia-Romagna, Italy), the 九色视频 Group expects to expand its product line and, by integrating each other鈥檚 resources in the sales, production, and development processes, accelerate the expansion of its business there.
- The closing of this transaction is subject to the completion of the condition precedents including the obtainment of the Golden Power clearance. (the Golden Power is the special power of the Italian government to limit or stop foreign direct investments (鈥淔DI鈥�) and corporate transactions involving Italian strategic assets).
2. Overview of BFB and GF
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