After forty years of family history, the kitchen furniture manufacturer OB Kitchens passes into the hands of an investment fund. Abac Capital has acquired a majority stake in this Cordovan company and has become, with this operation, its main owner, although the founding family maintains part of the property. The intention of this investment firm based in Barcelona, which prefers not to reveal the amount paid, is to create a leading group in the manufacture of kitchen furniture in Spain.
OB Cocinas is dedicated to the design and manufacture of kitchen furniture, a genre that it produces from its Villafranca of Cordoba and that it markets through a distribution network made up of 500 points of sale throughout Spain. According to a statement, the company exports more than 20% of its production. To all this, Abac intends to add resources in terms of strategy, operations and money, as well as the experience of its partners, with the aim of accelerating its expansion. The fund contemplates both growing organically and buying other companies.
“The kitchen furniture manufacturing sector in Spain has seen very significant growth in recent years due to the strength of the national market, as well as the successful international expansion process of some manufacturers”, justifies the founding partner of Abac, Borja Martinez de la Rosa. “Our ambition is to promote the creation of a new leading group at the national level, relying on the talent of OB Cocinas and basing ourselves on a sustainable product and high-quality service through digitalization, to which other companies in the sector will be incorporated to accelerate its consolidation”, explains the director.
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In turn, the partner and manager of OB Cocinas, Diego Worker, claims to be “excited” with the “new stage facing the company”. According to him, “the entry of Abac will make it possible to take advantage of the multiple growth opportunities that are being generated in the current environment” and all of this, he adds, “maintaining excellence in the product and service, an aspect that is recognized and valued as a hallmark of OB Kitchens by professionals in the sector”.
This is the first investment of the second fund managed by Abac, which defends the agreement as a good example of the operations that interest the firm: “Solid medium-sized companies that benefit from a new local investor with a global vision and positive impact” .
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