Denmark’s Elvstrøm Sails A/S has acquired its French sibling, Elvstrøm Sails Sarl, effective August 28, 2017. As part of the transaction, Elvstrøm will also take over the majority of the French company's employees.
The deal will unify the two Elvstrøm companies after more than 50 years’ separation and create the second biggest sailmaker in the world, says the company.
“We know that this unification was one of Paul Elvstrøm’s great wishes,” says Niels Bjerregaard, CEO at Elvstrøm Sails A/S. “It is now a reality and as we embark on our new journey together with our colleagues in France, we will charge ahead full steam, knowing that it would have been with the full support of our legendary founder.
“With our combined knowledge, product range, extremely strong brand and experienced employees, we are well positioned to continue the positive trend we have seen over the last few years.”
Elvstrøm Sails Sarl will continue its activities as a 100% owned subsidiary of Elvstrøm Sails A/S, with no interruption for its customers.
“There is a long list of synergies between our two companies,” says Nic Johansen, CEO at Elvstrøm Sails Sarl in Cannes. “It is truly a unique situation we have created with the unification of our strong brand, forming an unparalleled platform for growth in the years to come, which I am very much looking forward to being part of.”
Elvstrøm Sails has been designing and building high-quality sails for more than 60 years. With one of the largest sail lofts in Europe, the company serves many leading boat manufacturers, boat yards, and private customers.
A strong network of qualified Elvstrøm SailPoint locations services the rest of the European market along with an ever-increasing presence outside Europe.
The transaction will unify the two Elvstrøm companies after more than 50 years’ separation and create the second biggest sailmaker in the world.