Beijer Ref makes further acquisition
SWEDEN: Beijer Ref AB continues to expand, this time acquiring all shares in GFOI (Générale Frigorifique Océan Indien), a French refrigeration wholesaler on Réunion Island in the Indian Ocean.
Réunion Island, which is 800km east of Madagascar and 200km southwest of Mauritius, is one of two French département in the southern hemisphere with more than 840,000 inhabitants. As an overseas department of France, it is also part of the Eurozone.
GFOI was founded in 2000 and reports sales of approximately €5.46m.
”The acquisition is a step forward in our expansion strategy outside Europe. It strengthens our position in the southern hemisphere where, following the acquisition, we will achieve sales of more than SEK700m [€76m] via our operation in southern Africa”, said Beijer Ref ceo Per Bertland.
GFOI will be integrated into Beijer Ref’s organisation and will serve as a branch of the Group’s French refrigeration wholesaler, GFF.