Panariagroup has successfully completed the agreement to acquire the key assets of Steuler Fliesengruppe GmbH.

With this strategic move, Panariagroup gains ownership of the Leisnig facility, along with all the ceramic surface brands owned by the German group. This acquisition encompasses the sales network and the associated product inventories. Furthermore, the agreement involves the incorporation of administrative personnel and staff responsible for various services into Panariagroup. In 2022 Steuler Fliesengruppe achieved 136 million euros in sales across Germany, Austria, the Netherlands, and Switzerland.

Emilio Mussini, Chairman of Panariagroup, expressed his thoughts on this milestone: ” The acquisition of Steuler Fliesengruppe’s assets, 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 long-standing partnership with this Group and intend not only to ensure the utmost continuity for the Steuler, Grohn, Kerateam, Nordceram brands but also to further enhance their value on the international stage. This move perfectly aligns with our growth and internationalization objectives. It’s 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.”

Mussini adds, “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. 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.”

This landmark achievement follows a year of substantial developments, including the complete reorganization of our American Business Unit with the appointment of a new CEO, the acquisitions of Gresart in Portugal, and the establishment of a showroom in New Delhi. These endeavors further reinforce Panariagroup’s leadership in the global production and distribution of top-tier ceramic surfaces.

The acquisition is set to be finalized promptly upon receiving approval from the German antitrust authority, a process anticipated to conclude within the next four weeks.