Recticel signs agreement with Aquinos Group for divestment of Bedding business line
Recticel is pleased to announce that it has signed a binding agreement to divest its Bedding business line to Aquinos, a Portuguese privately owned industrial group. This agreement is another significant step in the execution of its business strategy.
We believe that the Aquinos Group will be an excellent home for our Bedding business. It is a truly dedicated player in the European bedding and furniture markets with strong commercial and industrial capabilities to leverage the potential of our Bedding brands, technologies, locations and teams. It offers high complementarity in terms of product offering and geographical presence, with very little overlap in footprint, which will lead to significant opportunities for the business and for our Bedding employees.
We expect to close the transaction in the first quarter of 2022, subject to shareholder and customary consulations, after which Recticel Bedding will be integrated within the Aquinos Group. Recticel is looking forward to working closely with Aquinos on a smooth transition.