Degrenne acquires Therias et L’Econome
French cutlery manufacturer Guy Degrenne has announced its acquisition of knife manufacturer Therias et L'Econome
Guy Degrenne Group, one of the leading European cutlery manufacturers and manufacturer of the complete tabletop, has announced its acquisition of family-owned French company Therias et L'Econome.
Founded in 1819, the Therias et L'Econome company manufactures knives in Theirs, the French capital of cutlery. Inventor of the vegetable peeler in 1929, it now markets its production under the L'Econome, L'Unique Sabatier and Laguiole Rossignol brands. It employs 35 people and generated 1.8 million euros revenue in 2014.
With this acquisition the Guy Degrenne Group takes a foothold in the world of hi-tech cutlery, supported by strong brands and recognized expertise. The extension of the range by this tableware and cookware manufacturer should allow it to strengthen its retail sales network as well as its professional network to hotels and caterers, in France and internationally.
Mr Thierry Villotte, the Group's chairman of the board Guy Degrenne specifies that production will remain in Theirs. In view of the significant volume of products aimed at Guy Degrenne's networks, the Therias et L'Econome company has already used the services of temping agencies and local subcontractors. An investment plan will allow the group to increase the site's production.
In orde to complete its development plan, which included the acquisition of Therias et L'Econome, the Guy Degrenne Group proceeded with a capital increase of 10 million euros in mid-September 2015.
Photo: ©Julie Ansiau