Ferretti Group acquires two of its suppliers
Ferretti Group’s CEO Alberto Galassi
Ferretti Group has acquired a majority stake in two companies that are part of its supply chain: Masello Srl and Fratelli Canalicchio SpA.
Massello, based in Fano, is a company with extensive experience in wooden furniture for yachts and has recently launched an innovative onboard assembly service. Fratelli Canalicchio, based in Narni, specialises in static exteriors and automatic kinetic systems for yachts.
As of 2021, the combined revenues of the two companies will amount to approximately €13 million, according to Ferretti. The group estimates the two companies are expected to generate sales of approximately €30 million by 2025, following the integration.
The two transactions are said to be aimed at improving overall profitability and gaining even more control over the production and procurement phases.
“We have finalised these two transactions because the acquisition of control of a strategic supplier ensures stability and reliability, improves industrial performance and insourcing of expertise,” says Alberto Galassi, CEO of Ferretti Group. “We are confident that the upstream integration will allow us to express even more quality and optimise costs and time.”
Ferretti Group is currently attending the 2022 Monaco Yacht Show (28 September-1 October), showcasing two world premieres: CRN M/Y Rio and the Riva 130’ Bellissima. Also on show at the event are CRN M/Y Ciao, the Custom Line Navetta 37, Custom Line 140 and Riva 110’ Dolcevita.
The group’s Ancona superyacht shipyard currently has 15 yachts under construction for the CRN, Riva, Pershing and Custom Line brands. Two of the largest projects have already been sold: the 85-metre CRN M/Y 144 and the 70-metre CRN M/Y 145.
Last month, Ferretti released its financial results for H1 2022, posting double-digit net revenue and EBITDA growth for the period with an order backlog at €1.2 billion.
The group has also confirmed it will continue to use Rolls-Royce mtu engines until 2027, after the firms renewed an ongoing supply agreement.
