A leading manufacturer of kitchen appliances employing 200 workers at Langar has just been acquired by new owners in a multi-million pound deal.
The 24-year-old CDA Group, in Harby Road, has been acquired by the Poland-based Amica Group for £24.3 million.
We have an ambition to put a CDA appliance in every home in the UK.Ian Kershaw, managing director
The deal is expected to set the cookers-to-sinks manufacturer on course for expansion with investment from its new owners.
Ian Kershaw, managing director of CDA, said; “I have always considered myself an employee of CDA who also happens to own the shares.
“The shares have changed hands, but they are in safe hands.
“We have an ambition to put a CDA appliance in every home in the UK, and under the umbrella of Amica we can achieve that.
“In every conceivable way this deal is exactly what CDA needs to take the next step in our journey.
“We are very fortunate to have the considerable resources of one of the fastest growing appliance companies in the world behind us.
“All of our staff and trade partners can only look forward to even greater times ahead.”
The new owners say the businesses will continue to be operated as two distinct and separate brands and businesses.
There will not be any change to the organisational structures, account managers or personal contacts, nor the quality of supply or services.
The firm say the Amica Group is not looking to make any savings or alterations to head-count and that in fact the reverse will be likely.
The Amica Group was founded in 1945 in Wronki, Western Poland, and continues to produce most of the freestanding and integrated products at the manufacturing complex there.
The group has about 2,500 employees worldwide. Amica is active in more than 50 countries with an annual turnover of more than €500 million across the Amica, Gram and Hansa brands.
Jacek Rutkowski, chief executive of Amica, said: “The acquisition of CDA is part of Amica Group’s long term strategy to grow revenue to €1.2 billion by 2023 and to ensure geographical diversification of sales to enhance the home market-leading position in Poland, as well as a strong presence in its larger markets of Germany, Russia and Scandinavia.
“The acquisition helps combine both parties’ strengths. Amica with its own production experience, scale of operations and large research and development department and CDA with its unique brand style and well developed infrastructure, with particular success in supporting the complex kitchen studio and construction channels.”
Mr Rutkowski added: “The acquisition of CDA Group enhances our position in Western Europe and drives our geographic diversification strategy.
“The transaction immediately raises the revenues we generate on the British market by 300 per cent and the revenues of Amica Group as a whole by 10 per cent.
“Furthermore, we expect significant synergies to boost our profitability in the near future.
“Our market expansion in Western Europe is gaining momentum.”