Danish furniture manufacturer Actona Group has confirmed the acquisition of Polish furniture manufacturer SITS.
As part of the group’s growth strategy, Actona Group is now investing further in consolidating the upholstery industry in Europe.
Less than six months ago, Actona Group, which is owned by Lars Larsen Group, officially acquired the upholstery manufacturer Theca, with production facilities in Lithuania.
Now, Actona Group is already expanding further by acquiring the company SITS, with headquarters and production facilities in and around Brodnica in northern Poland. Thereby, Actona Group is taking an additional big step towards consolidating the European B2B-market for upholstered furniture.
“It is no secret that we have set the bar high with our financial goal of doubling our business within a few years,” says CEO of Actona Group, Jimmi Mortensen, and continues:
“Therefore targeted acquisitions are a central part of our strategy and SITS can bring strong competences and new growth possibilities to the group, that complement our existing business and future growth plans,” he says.
SITS, which was founded as a family-owned business by the Swedes Erik and Marianne Näsström in 1993, is a manufacturer and supplier of upholstered furniture for the European market.
“With SITS in the portfolio we are able to strengthen our upholstery division significantly and create a number of synergies across the group such as more efficient production, better sourcing of materials, expanded sales channels, and increased capacity,” says Jimmi Mortensen.
“The family is very pleased to have found a new home for SITS with similar values of the employees appreciation and fair business. We thank all our colleagues, clients and suppliers for 30 years together and look forward to following the development of SITS as part of Actona Group. We are certain this will benefit both companies and be a great success!” Erik Näsström says.
The transaction is expected to be approved by the competition authorities within the coming months and will thereafter become effective.