Panariagroup acquires key assets of Steuler Fliesengruppe

Panariagroup gains ownership of the company’s Leisnig facility, brands, sales network and stock and becomes one of the leading players in the German-speaking markets.

Negotiations for the rescue of Steuler Fliesengruppe, a historic German ceramic tile manufacturer with three factories in Leisnig, Bremerhaven and Mühlacker and 2022 revenues of €136 million from sales in Germany, Austria, Holland and Switzerland, were concluded during the week of Cersaie.

On 28 September, Panariagroup announced the agreement for the purchase of the group’s key assets, namely the Leisnig factory, the four ceramic surface brands (Steuler, Grohn, Kerateam and Nordceram), the sales network and the associated product inventories.

The acquisition agreement, which is expected to be finalised by the end of October on receiving approval from the German antitrust authority, includes the incorporation of the administrative personnel and staff responsible for the various services into Panariagroup.

Emilio Mussini, Chairman of Panariagroup, commented:

“The acquisition of the assets of Steuler Fliesengruppe, with which we’ve been collaborating for an extended period, is a strategic decision that significantly bolsters our presence in the German market. We have the privilege of a longstanding partnership with this Group and intend not only to ensure the utmost continuity for the Steuler, Grohn, Kerateam and Nordceram brands but also to further enhance their value on the international stage. This move perfectly aligns with our growth and internationalization objectives and is founded upon a robust economic and strategic plan geared towards enhancing our business. Our approach involves developing the Leisnig facility, optimizing the resources we’ve acquired and actively engaging with local suppliers and partners.”

 “Thanks to the close proximity to raw material suppliers and an already established commercial network in the region, we are confident in our ability to transform the Leisnig site and other acquired assets into a pivotal hub for our business expansion across Europe,” Mussini added. “As a result of this strategic move, in conjunction with expanding distribution channels within the acquired group and the expected synergies with our other European Business Units, Panariagroup solidifies its prominent position in the German-speaking markets.”

Already one of the world’s leading manufacturers of high-end ceramic floor and wall tiles, Panariagroup has now taken a further major step forward in its process of international expansion and has further consolidated its global leadership in the production and distribution of ceramic surfaces.

The Italian group operates its own facilities in Italy, Portugal and the United States and sells its products in more than 130 countries worldwide.

This latest acquisition comes just a few months after that of Gresart in Portugal (finalised last April) and concludes a year that also saw the complete reorganisation of the American Business Unit with the appointment of a new CEO and the opening of a showroom in New Delhi.

At the same time as the agreement signed with Panariagroup, Steuler Fliesengruppe announced that the Bremerhaven facility will be acquired by Norddeutsche Solar Ceramics as of 1 April 2024, while the Mühlacker factory will be closed.