Joinwell and FXB announce signing of merger agreement
Joinwell and FXB, two of the most well-established and longest standing furniture companies in Malta, have entered into a memorandum of understanding to merge their companies.
The two companies combine 200 years of experience as pioneers in the furniture importation and manufacturing sector. Today, Joinwell is a recognised leader in kitchens, bedrooms, living rooms and other imported furniture while FXB is a dominant presence in contract furniture manufacturing, bespoke and office. The FXB Group has in recent years also established a presence in airconditioning, renewable energy, bathrooms and tiles through their subsidiaries Econetique and Bath Concept.
The merged operations are expected to bring a one-stopshop concept to both their businesses and retail customer base.
“Our joint potential provided the right impetus to meet our individual ambitions through the merging of the two companies,” stated Sebastian de Giorgio, Joinwell’s current CEO and set to become a Joint executive director of the merged companies.
He adds: “Both Joinwell and FXB are very strong brands and have a great track record in the industry. They share very similar traditions and values and already have very positive past experiences working together, both locally and abroad. Thus, the merger is a very logical next step to build on our individual and common success. Moreover, we have limited business overlap which takes us to a position of growth and a full-service portfolio, which should prove appealing to our current and future customers, both B2C and B2B.”
Joseph Borg, managing director of FXB and also Joint executive director of the planned merged entities added that “the
concept of a one-stop-shop for retail and contract clients gives us a number of advantages, including the possibility of streamlining our services and processes for our joint customers while we build on the strengths. The joint entity will have a stronger purchasing position which translates in more competitive pricing for our potential customers. This merger is a great opportunity to focus on the further development of environmentally sustainable practices while sharing with each other successful technolo
gies and procedures as well as delivering critical mass to sustain our plans of building a stronger corporate structure”.
Going forward the joint entities aim to provide a seamless continuation of existing services and build on the current market leading customer care practices. The current and future customer base will have even stronger guarantees that their purchases will be underwritten by a solid business with an increasing focus on sustainability and value.
Once the merger becomes ef
fective, it is anticipated that FXB’s showroom in Qormi will move into the Joinwell showroom (also in Qormi) whereas Joinwell’s factory will move into the FXB factory in San Gwann, which is planned to become the combined manufacturing centre for bespoke furniture. The FXB factories in Gozo will in turn focus on volume production of contract furniture and apertures including fire-rated doors. There are also plans to boost the FXB showroom in Gozo with Joinwell’s premium furniture brands.