HanseYachts completes Privilège takeover
HanseYachts has completed its acquisition of French luxury catamaran yard Privilège Marine SAS from its majority shareholder Aurelius.
The deal was originally announced on 27 June 2019 and means that HanseYachts now also owns 97.43% of the French yard. The cash purchase price was €500k plus a variable purchase price component of up to a further €600k.
"For eight years in a row HanseYachts was able to grow its turnover by 9 to 15 million Euros per year," said Jens Gerhardt, HanseYachts chief executive. "In order to be able to continue such dynamic growth, we need a new brand from time to time. After positive experiences with the new brands Dehler and Sealine in past years, Privilège will now continue this successful strategy."
Privilège has been a manufacturer of luxury catamarans for more than 30 years and produces sailing and motor catamarans from 50 to 75ft in length. The catamarans will continue to be built on the French Atlantic coast and the existing personnel of around 150 employees will be retained.
In preparation for the takeover, three new catamaran models were developed and marketed by HanseYachts in order to lead the traditional Privilège brand, which currently has an order book of €26m, into a successful future. Privilège is the sixth brand in the group to benefit from the worldwide distribution and purchasing power of HanseYachts.
The purchase has been financed by shares with the issuing of up to 299,219 new no-par value shares at a price of €5.75.
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