Gruppo Mastrotto acquires Portuguese COINDU

Gruppo Mastrotto announces that it has acquired a majority stake in the Portuguese company Coindu – Componentes Para A Indústria Automóvel, S.A, a leader in the design and production of high quality leather and textile automotive interiors.
For the leading Italian leather group, the press release explains, the deal represents an important step towards vertical integration, increasing its automotive offering and further consolidating its competitive position in the global market. “Both companies aim to expand their presence in the luxury segments, leveraging their joint know-how to meet the highest standards of premium customers in their respective sectors.”
The Gomes family will retain a minority stake in Coindu and the current management will continue to play a strategic role in the company after the transaction. Antonio Candido, CEO of Coindu, will remain in office with specific operational delegations, reporting directly to the shareholders.
“This strategic agreement is in line with our growth plans, strengthening our downstream integration and allowing us to capture synergies in terms of both revenues and cost structure,” said Chiara Mastrotto, President of Gruppo Mastrotto. “By combining our competencies with those of Coindu, we will strengthen our value proposition by offering increasingly advanced solutions for the automotive sector.”
Antonio Candido, Managing Director of Coindu, added: “Thanks to the synergies derived from this transaction, we will be able to offer an integrated service to our customers and respond even more effectively to market needs by improving our production capabilities and technical know-how. Coindu will retain its brand, its innovative production strategy and its independence in the market.”