Broadview Holding invests $840 million to acquire Formica Group
Netherlands-based industrial conglomerate, Broadview Holding, has invested $840 million to acquire Formica Group from its previous company, Fletcher Building.
“We said it when the sale purchase agreement was announced, and today we reiterate that this represents an exciting future for Formica Group, as we have a strong strategic alignment with Broadview,” said Mitch Quint, President of Formica Corporation North America.
The sale, which was announced in December 2018, includes Formica businesses in North America, Europe, Asia, as well as its Homapal metal laminates business.
Based in ‘s-Hertogenbosch, the Netherlands, Broadview is controlled by international holding company HAL Holding N.V. The industrial conglomerate includes: exterior HPL cladding supplier, Trespa; high-pressure laminate producer, Arpa; and Europe’s wood-based interior finishing manufacturer, Westag.
“Now that the acquisition is complete, we look forward to working with our new colleagues and exploring the synergies that will make this combination very successful. Broadview has some industry-leading technologies in their portfolio and we’re excited for the growth opportunities that brings to the Formica businesses,” said Quint.