The Belgian family business Facq, a specialist distributor of bathrooms and heating, is being taken over by GC-Gruppe, a German sector partner. The Facq family will remain a minority shareholder.
Facq focuses on the self-employed with its sanitary and heating stores. Until now, the chain has been 100% owned by the family of the same name. In 2019, the company realised a turnover of over 300 million euros, according to newspaper De Tijd. The chain has 44 so-called sanicenters, 15 showrooms and three distribution centres. It employs about 900 people.
GC Gruppe has now acquired a majority stake in the Belgian bathroom specialist. Neither the exact size of the stake nor the acquisition price were disclosed.
"There is a consolidation going on in our market, both among competitors and suppliers. This partnership was important to be stronger, so we can offer our professional customers more services and products," says marketing manager Pascale Curias of Facq.
Market leader in Europe
GC Gruppe was founded 100 years ago in Bremen by August Cordes und Alfred Graefe. The group comprises more than 100 wholesalers in 16 European countries. This makes it the largest independent distributor of sanitaryware, heating, air-conditioning and ventilation products in Europe. All in all, it employs almost 24,000 people.