PRESS RELEASE: Bigben finalizes the acquisition of Metronic
18 October 2021 - 4:45PM
PRESS RELEASE: Bigben finalizes the acquisition of Metronic
Press release
Lesquin, 18 October 2021, 8:00 hrs
Bigben
finalizes the
acquisition
of
Metronic(Home Digital
Life business unit of HF
Company)
Bigben announces the completion of the
acquisition of METRONIC within its Audio/Telco
Division.
METRONIC is the European leader in image
processing with a strong position in connected
audio-video.
Founded in 1987 by Yves Bouget, METRONIC, a
recognized player in its sector, designs and distributes innovative
products for broadcasting and receiving images in the home (TV and
audio accessories, amplifiers, decoders, connectors, headsets,
speakers, etc.) as well as telephone accessories and audio
products. METRONIC brand products are distributed through a variety
of channels, notably through the largest national retailers in each
country.
METRONIC has offices in France (Tours), Spain
and Italy, and employs approximately 90 people. Including its
subsidiaries, METRONIC posted sales of 24 M€ and EBITDA of 1.9 M€
as of December 31, 2020.
Many synergies between the two
entities
With the acquisition of METRONIC, the Bigben
Group is integrating a renowned player that will greatly contribute
to the development of its Audio/Telco business.
This operation thus offers the Audio/Telco unit
of the Bigben Group a new growth vector and presents numerous
synergies, in particular:
- Complementary
ranges and distribution networks
- Listings in
channels not yet fully exploited by Bigben: BtoB markets, DIY
superstores, etc.
- Acceleration of
international development particularly in Italy and Spain, thanks
to dedicated subsidiaries
- E-commerce
sales
Mr. Eric Tabone, President of METRONIC, will
manage the Company with a great autonomy in order to pursue and
accelerate METRONIC's current development strategy.
Terms of the transaction
The acquisition from the HF Company Group of the
entire share capital and voting rights of METRONIC SAS for 12 M€
paid in cash was completed on 15 October 2021 after the Board of
Directors of Bigben had previously approved the transaction.
Two capped earn-outs may be paid in cash in 2023
and 2024 up to a total aggregate amount of 4.0 M€.
A new business unit for Bigben:
AudioVideo/Telco
"This acquisition represents a new stage in the
strategy of Bigben's Audio Telco unit, bringing new know-how and
accelerating the conquest of new channels and listings. Proud to
welcome METRONIC and its teams, the Bigben Group will support the
growth of the current strategy and new, even more ambitious
projects. This acquisition confirms our objective of becoming a
major player in connected AudioVideo and Telco in Europe", declared
Mr. Fabrice Lemesre, Bigben's CEO.
"We are delighted to join the Bigben Group, a
leading player in the Audio/Telco industry, whose vision, ambition
and corporate values we fully share. Joining the Bigben Group is a
unique opportunity to accelerate our development while integrating
an environment conducive to the creation of ever more innovative
products" declares Mr. Eric Tabone, President of METRONIC.
Bigben's "AudioVideo/Telco" business unit has 9
sites (3 in France, 4 in Europe, 2 in Asia) with a total of 310
employees.
Next publication:Q2
2021/22 Sales: 25 October 2021, Press release after close
of the Paris stock exchange
ABOUT BIGBEN
INTERACTIVE |
SALES 2020-21292.8
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employees INTERNATIONAL28 subsidiaries and a
distribution network in 100
countries www.bigben-group.com |
Bigben Interactive is a European player in video game
development and publishing, in design and distribution of
smartphone and gaming accessories as well as in audio products. The
Group, which is recognized for its capacities in terms of
innovation and creativity, intends to become one of Europe’s
leaders in each of its markets Company listed on Euronext
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