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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
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