Two French industrial families, one from the North, the other from the Lyon region, join forces to promote French design.
The Despatures, owners of Damart and Somfy, as well as the Reybiers, who hold 95% of the garden furniture specialist Fermob, "
have decided to combine their expertise and to bind
".
The first becomes a 10% shareholder in Fermob via its investment company Blue Altitude Invest (BAI).
And conversely, the holding company of the Reybier family takes 10% of the capital of BAI.
This is just the beginning: by the end of the year, each family will have up to a third of the respective capital of Fermob and BAI.
The valuation of the investment company being much lower than that of Fermob, the Despature family's stake is accompanied by additional cash, the amount of which has not been disclosed.
"
It's both an association and an investment
, explains Alexis Despature, Managing Director...
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