NEWS - Dufour and Grand Soleil now under Bavaria umbrella
Bavaria Yachtbau and Cantiere del Pardo announce strategic agreement
The big German boatbuilder Bavaria Yachtbau GmbH and Italy’s Cantiere del Pardo Group (owner of the Grand Soleil and the French-made Dufour range of keelboats) have announced the signing of an agreement for the immediate lease and the subsequent acquisition of the Cantiere del Pardo group's operations by Bavaria.
As part of the deal Bavaria will immediately contribute the capital needed to support the business of the Cantiere del Pardo Group while lenders work to restructure existing balance sheet debt.
The three brands — Grand Soleil, Dufour and Bavaria — will continue to serve their existing customer base inline with their current positions on the market, to produce products in their current facilities and to sell them through their distribution networks.
"We are very happy to be able to bring together these great brands to create a top global player," said Dr Jens Ludmann, CEO of Bavaria Yachtbau.
"Providing liquidity and a strong balance sheet will support the business’s growth aspirations. We see significant synergies between the three brands in various areas of the business and these synergies will enable us to grow and enhance our market competitiveness," he said.
Federico Minoli, CEO of the Cantiere del Pardo Group commented: "We are proud to reach an agreement with a strategic partner like Bavaria.
"We are simultaneously solving our financial issues and forming a powerful group with complementary product ranges, geographical presence and managerial skills.
"The success that our new products have earned with customers can now ensure significant growth for our group," he said.
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