The Italian family holding 21 Next has completed the purchase of the Basque group Celesa, specialised in professional tools, in a transaction valued at approximately 100 million euros. This operation marks the first step in Benetton's expansion strategy in Spain.
The Benetton family has finalised the acquisition of the Basque group Celesa, known for its specialisation in cutting and hand tools, in a deal that amounts to around 100 million euros, according to expansion.com. This move represents the first major investment of their new investment platform 21 Next in the Spanish market.
With this purchase, 21 Next, chaired by Alessandro Benetton, aims to strengthen its presence in Europe, where it already has interests in countries such as Italy and France. Celesa, which expects to exceed 25 million euros in revenue this year, has experienced significant international growth, with nearly 15% of its income coming from European markets, with France being one of the most notable.
Celesa, founded in 1987 and located in Iurreta, Biscay, operates under the brands Blue-Master and Dogher. Its catalogue includes approximately 80,000 products and has been led by its current CEO, Joseba Citores, who will continue in his position following the acquisition.
The strategy of 21 Next includes enhancing Celesa's growth through commercial expansion in Europe and the launch of new product lines. The platform also plans to make selective acquisitions in markets such as France and Italy, following its investment model in small and medium-sized enterprises.
Alessandro Benetton commented: "With this investment, the first of 21 Invest in Spain, we strengthen our presence in Europe and bring our model of industrial and business value creation to a new strategic market."
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