“Imola Retail Solutions”: this is the name of the Newco that will be formalised on 1 January 2021 – following the framework agreement Cefla signed with ITAB La Fortezza S.p.A., the Italian subsidiary of Swedish group Itab Shop Concept AB – with the cession of Cefla’s Shopfitting Business Unit branch. This partnership agreement will see Cefla continue to hold a 19% share (and a place on the Newco’s Board of Directors) for the next three years) and safeguards the entire workforce at the Imola plant.
Through this agreement the Cefla Shopfitting BU becomes part of Itab – a holding company listed on the Stockholm Stock Exchange – the European leader in Retail Concepts and the design of sales environments, with annual revenues of over €500 million, over 3,200 employees and a presence in 28 countries.
This operation is part of a medium-term industrial plan that will allow, in the competitive setting of the large-scale retail industry – characterized by sharp polarization among industry players – an improvement in current positioning with the establishment of an industrial hub for the manufacture of shelving, checkouts and other highly competitive shopfitting products for European markets. Such improvements will also be driven by the technological support provided by Itab. There will also be a sharp focus on safeguarding the industry-specific skills in which Cefla has invested in recent years.
“Following meticulous analysis of the internal situation, we deemed the partnership with Itab and cession of the Shopfitting line to be an opportunity that will ensure business continuity and provide good cross-selling potential. This complex operation, set in motion after a meticulous selection of partners, is the result of a Group-wide efficiency and sustainability-enhancing project that will guarantee the future of the Imola plant and minimise any consequences in terms of employment” comments Gianmaria Balducci, President of Cefla.