BELGIAN ADHESIVES GIANT BUYS HOLDFAST

By NZHJ December 06, 2018 Glues, Sealants & Fillers

Hamilton's Holdfast NZ has announced it is being acquired by long term supplier Soudal of Belgium.

Hamilton business Holdfast NZ has announced it is being acquired by long term supplier Soudal of Belgium, Europe’s largest independent manufacturer of sealants, adhesives and foams.

Founded in a garage by Brett and Jenny Henderson some 33 years ago, a successful long-term supply relationship with Soudal has formed the basis of the sale just announced.

“This change is the latest exciting step in the ambitious global expansion plan for Soudal and promises to deliver huge benefits to our Holdfast customers,” says Simon Rickman, Holdfast NZ CEO (pictured left).

“With Soudal’s broad and rapidly growing product portfolio, we can serve the trade, industrial and DIY markets even better with our range of Gorilla branded products.”

Soudal is equally excited by the acquisition.

Managing Director Dirk Coorevits (seen below with Soudal founder and Chairman, Vic Swerts) says: "The acquisition of Holdfast, in a busy New Zealand marketplace, shows our commitment to growing our position in the region and globally.

“After so many years working together with the Holdfast team, we know what a great fit Holdfast represents for our wider Soudal business."

With a workforce of close to 3,000 employees across five continents, Soudal's turnover will surpass €850 million in 2018 .

With a turnover of approximately $21.4 million in 2018 (according to Soudal's website) and employing 44 people, Holdfast will retain its Hamilton base and management team.

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