Amsterdam – CFI Netherlands is pleased to announce the acquisition of the Belgian brick manufacturer Floren & Cie NV (“Floren & Cie” or the “Company”) by the UK listed company Michelmersh Brick Holdings PLC.
Floren & Cie was founded in 1896 and has been led by members of the Corswarem family for generations. The Company operates a production location in the Northern part of Belgium and has continuously invested in product innovation, using the latest technologies, as well as invested in ecological measures for its production processes.
Michelmersh Brick Holdings PLC [ISIN: GB00B013H060, Ticker Symbol: MBH] is the UK’s largest specialist brick manufacturer and currently owns six of the UK’s most recognised premium brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh and Hathern Terra Cotta. The Company operates a fully integrated business combining the manufacture of clay bricks, tiles and pavers. Michelmersh Brick Holdings PLC employs approximately 560 people and realised a turnover in 2017 of more than GBP 37 million.
Mr Frank Hanna, Joint CEO of Michelmersh, stated: “Floren & Cie has a strong brand name with broad range of high quality products which complement our existing offering. This acquisition also provides Michelmersh with a strong presence on the European mainland.”
The transaction closed on 15 February 2019.
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