Italcer Group acquires 100% stake in Cedir

The Reggio Emilia-based group led by Graziano Verdi is continuing its acquisition-based growth plan with the purchase of Cedir, a historic ceramic company located in the province of Ravenna.

Italcer Group, a leading player in the Italian ceramic design and high-end bathroom furnishings sector, has acquired 100% of the capital of Cedir, a historic ceramic tile producer founded back in 1968 in Castel Bolognese in the province of Ravenna. Formed over a period of 3 years through a series of mergers, Italcer is now Italy’s sixth largest ceramic group and produces high-quality products for interior and exterior use through a variety of top brands and historic companies (Devon&Devon, La Fabbrica Ceramiche Ceramiche, AVA, Elios Ceramica, Ceramica Rondine and Bottega).

Italcer’s acquisition of Cedir, which has a production capacity of 3 million sqm/year of porcelain tiles and 60 employees, fits in perfectly with the group’s long-term strategic goals. It is committed to retaining both the facility and the workforce.

“The acquisition of Cedir marks an important step forward for the Group’s growth plans thanks to its all-Italian creativity and quality and its strong focus on the needs of the various markets,” comments Italcer Group’s CEO Graziano Verdi. “The primary aim of our integrated business model is to create a high-end cluster in the ceramic floor and wall tile sector, and this is where we are focusing all our efforts.”

Founded in 2017 by Graziano Verdi together with Alberto Forchielli and Lorenzo Stanca from Fondo Mandarin Capital Partners, Italcer Group has 530 employees, total 2019 revenues of more than 200 million euros and 3,000 distributors worldwide. The Group expects to produce more than 15 million sqm in 2021 and aims to reach revenues of 300 million euros in 2024, with an EBITDA in excess of 70 million euros.

Amongst its international development projects, the Group intends to build a new Industry 4.0 plant for large slab production in Tennessee, USA. In recent years, Italcer has invested more than 25 million euros in Industry 4.0 technologies and expects to make further annual investments of 10 million euros over the next three years.

The group recently launched Advance, its new line of anti-viral, anti-pollutant and anti-bacterial porcelain products with properties certified by tests conducted in the Tile Council of North America (TCNA) research laboratories.