Actona Group reports that it has acquired Polish furniture manufacturer SITS.
As part of the Danish group’s growth strategy, Actona is investing further in consolidating its place in Europe's upholstery industry.
Less than six months ago, the group, which is owned by JYSK's parent, Lars Larsen Group, officially acquired upholstery manufacturer Theca, which operates from production facilities in Lithuania.
Now Actona is expanding further by acquiring SITS, whose headquarters and production facilities are based in and around Brodnica in northern Poland.
”It is no secret that we have set the bar high, with our financial goal of doubling our business within a few years,” says the CEO of Actona Group, Jimmi Mortensen. "Therefore targeted acquisitions are a central part of our strategy, and SITS can bring strong competences and new growth possibilities to the group that complement our existing business and future growth plans."
SITS was founded by Erik and Marianne Näsström in 1993. Today, the company employs approximately 2000 people and operates in a number of European countries via various retailers.
”With SITS in the portfolio we are able to strengthen our upholstery division significantly and create a number of synergies across the group such as more efficient production, better sourcing of materials, expanded sales channels, and increased capacity,” says Jimmi.
Erik Näsström adds: ”The family is very pleased to have found a new home for SITS with similar values of the employees' appreciation and fair business. We thank all our colleagues, clients and suppliers for 30 years together, and look forward to following the development of SITS as part of Actona Group. We are certain this will benefit both companies and be a great success!”
The transaction is expected to be approved by competition authorities within the coming months.