Paris/Versmold, January 4, 2021.
Following the approval by the German competition authorities, STEF Group and Nagel-Group announce they have finalized their agreement for the acquisition by STEF Group of Nagel-Group’s operations Italy and Belgium on 31 December 2020. The second part of this agreement, which specifically concerns the Netherlands, will be concluded later in 2021.
As a result, their reciprocal distribution agreements will be able to be set up in these two countries. They will enable Nagel-Group to make use of the STEF Group's distribution network for its operations in Italy and Belgium, and STEF Group to offer its customers improved coverage and services to Central (Germany), Eastern and Northern Europe.