EQS-News: Wienerberger AG: Wienerberger acquires leading provider of piping solutions in Croatia
EQS-News: Wienerberger AG / Key word(s): Takeover
Wienerberger AG: Wienerberger acquires leading provider of piping
solutions in Croatia
09.06.2022 / 09:00
The issuer is solely responsible for the content of this announcement.
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Wienerberger acquires leading provider of piping solutions in Croatia
• With its new production site near Rijeka (HR), Wienerberger broadens
its range of plastic piping systems solutions for in-house
applications
• Acquisition of Vargon d.o.o., in line with Wienerberger’s growth
strategy, enhances value creation in Croatia and South-Eastern Europe
Vienna, June 9, 2022 – The Wienerberger Group, the world’s leading
supplier of building materials and infrastructure solutions, announces
that an agreement to acquire Vargon d.o.o. has been signed. Through the
acquisition of Vargon, Wienerberger strengthens the market position of its
Piping Solutions Business Unit in South-Eastern Europe. Vargon d.o.o. is a
leading provider of in-house solutions for water applications and water
discharge systems in Croatia. Operating from its production site near
Rijeka, the family business generated revenues of
€ 24.4 million in 2021. The acquisition enhances Wienerberger’s expertise
in in-house installation systems and perfectly complements the Group’s
position in infrastructure, water, and wastewater systems in South-Eastern
Europe.
Commenting on the transaction, Heimo Scheuch, Chairman of the Managing
Board of Wienerberger AG, says, “The acquisition of the family-run Vargon
business enables us to further strengthen our position as a partner for
the entire building envelope in Europe. This is entirely in line with our
sustainable growth strategy focused on innovation and local value
creation. In Vargon, we have found a partner whose corporate culture, like
Wienerberger’s, is based on respect and trust.”
Wienerberger expects Vargon to leverage significant growth potential
through its association with Pipelife. As regards the future growth path,
Wienerberger intends to focus, in particular, on the in-house segment and
to further develop the well-known Vargon brand. Vargon will be able to
benefit from Wienerberger’s solution competence and diversify into
infrastructure solutions. At the same time, the acquisition of Vargon
strengthens and broadens Wienerberger’s product portfolio in the in-house
segment, as well as in the area of infrastructure.
With Vargon, Wienerberger is entering the Croatian market with a
production site of its own and strengthening its presence in South-Eastern
Europe. This enables Wienerberger to supply not only Croatia, but also the
South-Eastern European markets from its regional production. Moreover,
Wienerberger is building a strong position in the in-house segment in
Croatia. Goran Brašnić, the current CEO and main shareholder, retains a
20% stake in Vargon.
Goran Brašnić, Managing Director of Vargon, says, “I am happy to have
found a strategic partner in Wienerberger; as a global operator providing
an innovative and comprehensive range of all-in solutions for water
applications as well as water discharge systems and infrastructure
solutions, Wienerberger will ensure the sustainable further development of
our company.”
Details of the transaction
The closing of the transaction will take place in 2022, subject to
necessary antitrust approvals and the fulfillment of other conditions
precedent typical for such transactions.
The contracting parties agreed not to disclose the purchase price.
About Vargon
Vargon d.o.o. is a family business that has been covering the entire
product range for water applications as well as discharge systems in the
in-house pipe segment since 1990. Holding a leading position in Croatia,
the company supplies not only its Croatian home market, but also customers
in neighboring markets. With its plastic pipes and fittings for water
supply, Vargon also reports strong growth in the infrastructure segment.
With a workforce of about 250 employees, Vargon operates a production site
near Rijeka.
Wienerberger Group
The Wienerberger Group is a leading international provider of smart
solutions for the entire building envelope and for infrastructure.
Wienerberger is the world’s largest producer of bricks (Porotherm, Terca)
and the market leader in clay roof tiles (Koramic, Tondach) in Europe as
well as concrete pavers (Semmelrock) in Eastern Europe. In pipe systems
(Steinzeug-Keramo ceramic pipes and Pipelife plastic pipes), the company
is one of the leading suppliers in Europe. By acquiring Meridian Brick,
Wienerberger further strengthened its position as a leading supplier of
facade products in North America. With its total of 215 production sites,
the Wienerberger Group generated revenues of € 4.0 billion and EBITDA LFL
of € 671 million in 2021.
For further information, please contact:
Claudia Hajdinyak, Head of Corporate Communications Wienerberger AG
t +43 664 828 31 83 | claudia.hajdinyak@wienerberger.com
Daniel Merl, Head of Investor Relations Wienerberger AG
t +43 1 601 92 – 10221 | investor@wienerberger.com
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09.06.2022 This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: Wienerberger AG
Wienerbergerplatz 1
1100 Wien
Austria
Phone: +43 1 60 192-0
Fax: +43 1 60 192-10159
E-mail: office@wienerberger.com
Internet: www.wienerberger.com
ISIN: AT0000831706
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1371131
End of News EQS News Service
1371131 09.06.2022
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