ABEO acquires Belgium-based Eurogym
PARIS, FRANCE: ABEO, a leading global supplier of sports and leisure equipment, has acquired entire share capital of Belgian company Eurogym, which specialises in the distribution of leisure and competition gymnastics equipment.
Created 29 years ago, Eurogym was acquired from its founder, Lieven Vercruyssen, who will support ABEO for the time necessary to ensure the company’s integration within the Group. Based in Haasdonk, Belgium, Eurogym employs around ten people and generates profitable revenue of around €3 million (of which around 70% with the Group).
The acquisition allows ABEO to confirm its control of the entire value chain in Belgium/Benelux. The company also aims to create significant synergies across the Group, in particular with its subsidiary Bosan, a sports equipment specialist in the Netherlands. Lastly, the deal consolidates a longstanding partnership, as Eurogym is the largest official distributor of Gymnova, a Group subsidiary.
The acquisition was finalised on 5 November 2021 using available cash, with no material impact on the Group’s net financial debt. Eurogym will be integrated into the Sports division and consolidated from 1 November 2021.
ABEO Group CEO Olivier Estèves said: “We are delighted to welcome the Eurogym teams to ABEO, as we already know them very well. We have been working together for several years, which will allow us to quickly capitalise on Group synergies in the distribution of our products in Europe.”
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