Harbo Fritid to become part of the Da'core Group
The Da'core Group has acquired Harbo Fritid. Along with the acquisition of ATO last week, this has resulted in the creation of a large European player in the outdoor furniture sector.
Da'core has acquired the trading activities of Harbo Fritid, while the remaining part of the company will continue as a production unit and become a strategic partner to the Da'core Group. Harbo's products, including its well-known pine furniture, will be marketed by the Da'core Group, and in the future all customers will have access to a broad and very strong assortment. The partners will collaborate to develop new products and benefit from Harbo's experience. In the future, even more will be invested in concept and product development as well as in innovative logistics solutions.
"Harbo is a well-known brand in our industry, and the company has many highly skilled employees, who will undoubtedly benefit us greatly. We look forward to welcoming them to our team and to showing customers that, as a collective whole, we have become an even better business partner. With last week's inclusion of ATO, we obviously face a huge task in integrating all our new colleagues into the Da'core team while ensuring our customers get the attention they rightly deserve. But I have no doubt that we will solve this task" says Carsten Lauth, Managing Director of Da'core.
The new members of staff will be integrated into the existing organisation in Halmstad, which houses both office and showroom. In addition, customers will benefit from the existing Da'core organisation in China in terms of purchasing, quality control and own warehouse, along with the advanced logistics solutions that will be further developed over time.
Market Manager and co-owner of Harbo, Tony Ohlsson, is looking forward to a new start as part of a unified Da'core: "My family and I are happy that this part of Harbo Fritid will be part of a solid company that embodies a superb combination of dynamics and professionalism. Both Da'core and ATO have their own clear strengths, and Harbo has much to contribute to the development of the Group. These strengths complement each other well, and therefore it will be exciting to see what happens now that we are all part of the same team."
Niels Toft, Partner at LD Invest Equity, who represents the principal owner LD Equity 2 K/S, says of the acquisition: "We are incredibly happy that we have managed to incorporate Harbo's sales and trading activities into the group. Harbo has a lot to offer in terms of assortment and customers, including distribution to several markets where we do not have high activity at the moment. LD Equity 2 has invested in this sector because we believe, among other things, that it faces consolidation since size is becoming an ever more important factor when it comes to serving customers competitively. Harbo's inclusion in the Da'core Group represents one step in the right direction, but hopefully not the last."
For further information, please contact:
Carsten Lauth, Managing Director. Tel. + 45 29 61 38 56
Asbjørn Berge, Chairman of the Board. Tel. +45 40 73 44 65
Niels Toft, Partner at LD Invest Equity. Tel. + 45 23 65 59 39
Da'core in short
Da'core was established in 1984. The company is one of the leading suppliers of garden furniture, parasols and garden cushions, particularly to Northern Europe. ATO Fritid, which has recently become part of the Da'core Group, is primarily active in the Swedish market. The company has its headquarters in Denmark, own organisation in China and with Harbo's addition to the Group it now has sales companies in Sweden, Germany, the UK and Austria.