Soudal Group has announced two foreign acquisitions – local foam producer Profflex in Russia and local distributor Seal Systems in Ireland.
Profflex is one of the leading local producers of PU foam for the professional home market. The company has a turnover of 15 million euro and employs 70 people. This acquisition will help Soudal in strengthening its position in the Eastern European market.
Dirk Coorevits, Managing Director Soudal said, “Russia is one of the biggest and most important PU foam markets worldwide. This investment in a leading local brand and manufacturer shows our commitment to grow our position in the Russian market, and strengthens our leadership in the region.”
The Seal System, acquired in Ireland, has been the exclusive local distributor for 30 years. The acquisition is part of the strategy of being present with local branches and completes the Soudal branches network throughout Europe.
In the case of both acquisitions, the employment in the companies remains unchanged and the current management will stay at the helm. This allows them to maximally profit from the specific local strengths of the acquired companies. Profflex and Seal Systems will be the 66th and 67th branches in the Soudal Group.