Brembo to buy J.Juan Group
Following the acquisition of SBS earlier this year, Brembo has announced that it has signed an agreement to take 100% ownership of Gavà (Barcelona) based brake hose and pad specialist J.Juan Group.
Brembo states: "With this transaction, the Group expands its brand family and completes the range of solutions for motorbike braking systems."
Founded in 1965, J.Juan is based in and has three plants in Spain and one in China, manufacturing brake hoses and a "strategic safety component for braking systems that will complement the current range of Brembo products for motorbikes.
"With this transaction, Brembo forges ahead with its path to become a trusted solution provider. The acquisition of J.Juan will enable the Group to complete its range of solutions for the motorbike braking system and to expand its brand family for the growing motorbike sector."
Alberto Bombassei, Chairman of Brembo, is quoted as saying: "We are proud to welcome J.Juan in the Brembo Group. This transaction is in line with our global strategy and follows the recent acquisition of SBS Friction in Denmark. We continue to invest with the aim of strengthening our motorbike core business. The addition of J.Juan is a great opportunity for us, as it reinforces our positioning as a company increasingly oriented to offering comprehensive, integrated and high-quality solutions to our customers."
José Luis Juan, CEO of J.Juan, stated: "We are glad to join the Brembo Group. The transaction will allow us to become part of a strong company with a solid global footprint that will support J.Juan's development for the professional growth of all our employees and the benefit of customers."
Under the agreement, the consideration for the transaction is currently estimated at € 70 million, to be paid using available cash. The final price will be subject to the usual adjustment mechanisms envisaged for similar transactions. The enterprise value is put at € 73 million.
