Masotti Cassella with Wienerberger in Italy in the acquisition of Terreal
Wienerberger, the Austrian building materials giant, has signed an agreement for the acquisition of the activities in Italy, France, Spain and the United States of Terreal, founded in Surenes over 150 years ago and one of the major European suppliers of innovative solutions for renovation of facades and roofs, which operates in Italy through the San Marco and Pica brands with three production plants.
The transaction, worth 600 million euros, also includes the business in Germany and Benelux of Creaton, a company acquired by Terreal in 2020, while the production sites in Austria, Poland and Hungary remain the property of the current shareholders. The closing is expected later this year, after final approval by the antitrust authorities.
For Wienerberger, the deal will involve the incorporation of almost 3,000 employees and 29 cutting-edge plants (including the research and development center of Castelnaudary) which in 2022 are estimated to generate a turnover of around 740 million euros and an Ebitda equal to 100 million which the group expects to bring to 150 million within three years. The investment will be above all strategic in view of the new European environmental projects in terms of energy efficiency of buildings.
Legally assisting the Austrian group in Italy was the Masotti Cassella law firm with a team led by Mascia Cassella, name partner, with Stefano Del Vecchio, who worked in other geographies with E+H, Latham & Watkins, Advant , Garrigues, Holland & Knight and Stibbe.