The agreement between the families Venturato (Samo) and Fantoni (Inda) expects that Venturato will be the controlling shareholders of the new group. The operation has achieved without sacrifice for the creditors of Inda.
Milan, August 6th 2013 - After a period of intense preparation, the merger between Inda and Samo has been finalized in these days, aimed to create an European leader of bathroom furniture.
Inda e Samo become an integrated group in the bathroom furnishing sector, with a tournover nearly €100 million and it’s able to offer a variety of products, from shower enclosures (Samo is an Italian leader), accessories (Inda is one of the leading European manufacturer) to bathroom furniture. Samo will add to it’s strong presence in the Italian market, the retail structure of Inda in Europe, markets such as France, Switzerland, Belgium and Germany. Both brands will maintain their strong identity and their commercial networks. The operation involves the concentration of a large part of the production of shower enclosures at Bonavigo (VR) (Samo’s Warehouse) and other productions sites.
Denis Venturato, Samo’s Chairman and CEO, will assume the operational management of the new group.
Despite a difficult market conditions, commented Ms. Donata Fantoni, Shareholder’s representative of Inda – the merger with Samo means a new start for Inda. Inda expect to be able to represent a very important lever for Samo in a moment that foreign markets are the natural potential for the Made in Italy with high quality.
The industrial efficiency – added Denis Venturato, Chairman and CEO of Samo- is the customer service, understood as innovative service that has characterized the history of Samo and will represent the motor for the relaunch of the brand Inda. The new group that ranks among the first in Europe want to become a primary interlocutor in the world of the bathroom furnishings.
The operation has been made through the creation of a Holding, Samo industries, which owns 100% of the both companies and will be controlled by Venturato family. In order to ensure the realization of the transaction, Inda, during the month of January, has lodge the pre agreed request at the Court of Busto Arsizio.