FGV and Hettich move closer to partnership through share acquisition completion

In early September 2023, Hettich Corporation announced the successful acquisition of FGV Group, officially marking Hettich's takeover of FGV.

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In addition to the necessary approval from anti-trust agencies, all other conditions for taking over have been met. FGV and Hettich are currently working together to shape the future in the furniture accessories industry.

Both companies have a long-term vision, expertise in furniture accessories, operate in the same industry, and have close relationships with customers.

Cooperation ceremony: representatives of FGV management board and Dr. Andreas Hettich with shareholders. Photo: Hettich

Dr. Andreas Hettich, shareholder and Chairman of the Advisory Board of the Hettich Group, who currently holds 100% of the shares of the FGV Group, emphasizes: “Hettich and FGV will complement each other’s strengths to continuously develop existing business activities and provide customers with even more value-added solutions”.

Dr. Andreas Hettich, Photo: Hettich

For Uwe Kreidel, continuous development and reliability with customers together carries special significance. FGV’s talented management team will be joined by Uwe Kreidel as Chief Executive Officer in the future. With over 30 years of experience in furniture accessories, at Hettich and in management roles, he contributed his knowledge of the Italian market, as well as other experiences while serving as Hettich Italy’s Regional Director.

Uwe Kreidel, currently the CEO of the FGV Group, is looking forward to the new role and hopes to work with FGV’s management team soon: “The Formenti Giovenzana Group is a company with outstanding personnel. I look forward to shaping FGV’s development and the work with all my colleagues. We will bring together the diverse knowledge and experiences of both organizations to successfully develop, as independent brands”.

Uwe Kreidel – CEO of FGV, Photo: Hettich

According to Matthias Bertl, Managing Director at Hettich Southeast Asia, “The cooperation between Hettich and FGV will drive the joint efforts of both brands to set a new direction in Asia as well as the world. Now, we have a global workforce with nearly 10,000 employees to serve customers across different continents. We have been and are striving to bring more innovations to take both brands further, reach more countries and customers.”

Matthias Bertl – Managing Director, Hettich Southeast Asia, Photo: Hettich

Hettich and FGV will remain independent brands and companies. Customers of both companies will continue to communicate and work with familiar personnel.

About Hettich

Established in 1888 in Germany, Hettich is known as one of the leading and successful manufacturers of furniture accessories worldwide. With approximately 8,000 employees present in nearly 80 countries, along with continuous investment in research and development to enhance product quality and technology, the company aims to provide sustainable solutions for the furniture industry and spread the message “It’s all in Hettich” to the global community. Website: www.hettich.com

About FGV

As a leading company in manufacturing accessories and solutions for furniture, FGV brings a complete range of products. Established in 1947 in Brianza, Veduggio con Colzano, FGV is currently present on all continents with six production sites and seven distribution locations along with a network of over 70 distributors. FGV represents innovation in an open system for furniture and provides the most advanced solutions for your home. Website: www.fgv.it

SOURCEcafef
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