Steinhoff International has announced that it intends to purchase a 50% equity share in Cofel, the French subsidiary of European bedding leader Grupo Pikolin.
This alliance with Steinhoff will enable Grupo Pikolin to strengthen its international presence and expand into new markets, as well as bringing valuable know-how to the Steinhoff group and strengthening its bedding range in Europe.
“This strategic alliance represents an incredible opportunity to expand and capture new markets,” says José Antonio Gonzalez, CEO of Grupo Pikolin.
Danie van der Merwe, COO of Steinhoff International, adds: “The bedding product category has been a key focus for the Steinhoff group, and Grupo Pikolin has been a trusted partner to Steinhoff for many years. Their knowledge of the bedding market and high-profile brand portfolio will further support and benefit the group’s development in the bedding market.”
