Franke completes takeover of ventilation specialist Wesco
Published: Friday, Nov 1st 2024, 14:20
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Franke has completed the takeover of ventilation specialist Wesco announced at the end of September. The relevant competition authorities have approved the transaction, the kitchen construction company, which is part of the Artemis Group, announced on Friday.
Franke sees the acquisition of the Swiss Wesco Group as strengthening its market position in the extractor hood and air filtration sector in Switzerland and Germany. Wesco's products should complement Franke's product range well, both geographically and strategically, it was reported back in September.
Wesco will continue to operate as an independent unit within Franke's Home Solutions division and will be managed by division head Barbara Borra. The takeover of the family business is part of a succession plan.
Wesco, based in Wettingen, generated sales of CHF 97 million in the 2022/23 financial year and employed 280 people. For its part, the globally active Franke Group generated sales of CHF 2.42 billion in 2023.
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