GESCO

GESCO

March 01, 2017 15:49 ET

GESCO Aquires Savoia Canada

BRAMPTON, ONTARIO--(Marketwired - March 1, 2017) - GESCO of Brampton Ontario is pleased to announce the acquisition of Savoia Canada.

Savoia, founded in 1993, is a Canadian based ceramic, porcelain and stone distribution company, with warehouse, office and showroom facilities located in Mississauga Ontario. Savoia represents leading brands such as Fiandre, Iris U.S., PorcelainGres, Iris Ceramica and Ariostea. It counts amongst its esteemed customers such prominent global companies as Ford and BMW. Savoia also has an office and showroom located in downtown Toronto, built to accommodate and service the local architectural and design community.

Savoia was previously established and owned by Graniti Fiandre S.P.A. of Italy, founded over 50 years ago, a world renown manufacturer of marble, granite, stone and porcelain surface products, sold and distributed throughout 110 countries. Its well established reputation for innovative product design, manufacturing technology, respect for and attention to the environment, as well as its numerous social commitments, all contribute to making this acquisition the perfect fit with GESCO, a company with similar values and principles. Graniti Fiandre and its many supporting brands are associated with notable global end users such as McDonalds, Nike, Burger King, Starbucks and the list goes on.

GESCO, founded nearly 70 years ago, is Canada's leading national flooring (now multi surface) distribution company. It designs, sources, merchandises, markets, sells and distributes various leading licensed and proprietary private label brands, sourced from over 100 suppliers in each of 14 different countries, as sold to thousands of customers within multiple channels of distribution. GESCO's numerous warehouse, office and showroom facilities are strategically located coast to coast within Canada and throughout the northwestern United States.

"The sale of Savoia to GESCO achieves many objectives for Graniti Fiandre,' stated Federica Minozzi President of Graniti Fiandre. 'First and foremost is ensuring that Savoia's customers are serviced and developed by an owner operator known in the marketplace for its exceptional marketing, sales, logistics and service capabilities. Second, Savoia's associates will now be welcomed into the GESCO Group of Companies, known for its caring, inclusive and supportive culture. Third, Savoia's new owner knows and understands well the Canadian marketplace, its differences as well as its opportunities for future advancement, all while possessing the necessary resources to fuel such growth. Finally, we at Graniti Fiandre find great comfort in knowing that the Savoia brand itself will continue on, as a separate entity under GESCO, allowing it to develop and flourish to its true potential."

"We are very pleased with the acquisition of Savoia Canada and to have developed such a quality working relationship with Graniti Fiandre' said Ed duDomaine, President & CEO, GESCO. 'We value greatly Savoia's corporate name, its many established brands, quality end use customers and experienced associates. This move adds yet another entity to the GESCO Group of Companies, alongside Shnier and Tierra Sol, with more yet to be added. This move is also strategic, further supporting GESCO's efforts to become an ever more significant player within the world of ceramics."

GESCO, founded in 1938 is majority owned by Blue Point Capital Partners of Cleveland, Ohio.

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