Firm beds in to Italy in £6.1m deal
A MANUFACTURING firm has expanded its European operation after a multi-million pound acquisition of an Italian company.
The Vita Group, based on Oldham Road, Middleton, expects the £6.1m deal for Italian foam manufacturer IMPE to complete in the first quarter of 2021.
As the UK’s leading provider of polyurethane foam – which is used in mattresses and bedding, furniture, and flooring – the company employs 2,700 people across Europe.
During the pandemic the company has also helped produce medical mattresses, filters for ventilators and PPE mask inserts, among other healthcare related products.
It is hoped the deal, which will see the Naples site renamed Vita Italy, manufacture foam for the Italian furniture and bedding industry, as well as expanding the Group’s trade links with the Americas and North Africa.
Their new site in Italy has production capabilities of 20,000 tonnes per year.
Group CEO Ian Robb said: “This strategic acquisition establishes a further step in our ambition to broaden and strengthen our production footprint across Europe.
“We believe this is a win-win transaction for all parties and allows Vita to gain an established foothold in this important market.
“Under The Vita Group umbrella, and with the assistance of IMPE’s experienced workforce, we look forward to further investing in new plant and equipment to allow us to increase choice, innovation and continued support to our existing and new customers, while further enhancing our presence in the Italian bedding and furniture market.”
In Middleton the company has a state-ofthe-art bedding innovation centre, which recently developed free foam - an environmentally friendly alternative to standard foams. The Naples site is a subsidiary of the world-leading furniture manufacturer Natuzzi company, which Vita has a long-standing partnership with.
In addition to purchasing the foam plant in Naples, The Vita Group will continue to supply Natuzzi with high-quality materials, including new innovative foams to use in its furniture.