Hafa Bathroom Group and NORO set to merge to create the bathroom company of tomorrow

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Halmstad 2017-01-10

Press Release

 

Hafa Bathroom Group AB

 

Hafa Bathroom Group and NORO set to merge to create the bathroom company of tomorrow

Hafa Bathroom Group AB and NORO AB have, this January 3rd, entered into an agreement whereby NORO will be incorporated into Hafa Bathroom Group. The new company will have turnover of approximately SEK 310 million on an annual basis.

We plan now to continue to work with three brands, all of which will fulfil different purposes. The Hafa and NORO brands in combination offer customers attractive, high quality products for the entire bathroom. Retailers can now work with a full service concept for the bathroom through one single supplier – a unique possibility in the market. Westerbergs will continue to focus on specialist professional trade and baths, i.e. bathtubs, massage tubs and outdoor hot tubs. The potential within this customer segment is significant and we have begun to collaborate with several exciting new partners in recent years.

"I believe that an increasing number of companies will be forced to differentiate their offerings over numerous platforms and brands as time passes. We have recognised distinct advantages in not being 'everywhere', and instead focusing on selecting the partners that best align with our unique customer offering," says Anders Hofstedt.

Hans-Erik Backman and David Norell, today joint-owners of Noro, will take on joint-ownership roles in Hafa Bathroom Group, as well as assuming key roles in the operational management team.

Hans-Erik Backman agrees that the merger represents the perfect match. "I expect the customer-driven entrepreneurial culture in NORO to dovetail with Hafa BG's qualities and structure to form a new type of partner within the bathroom sector. I am extremely motivated to be a part of the new journey ahead."

David Norell notes that one trigger for the union was the substantial synergies, given the companies' similar business structures and geographical locations. "I am very excited to be a part of the management in the new company and look forward to working together on advancing in the future, The possibilities are endless."

Anders Hofstedt, CEO