D'Ieteren : Belron enters the home repair market in Europe through the acquisition of Maisoning Group in France (2024)

Belron has announced the acquisition of 80% of the shares of Maisoning Group, a French company providing home repair services (repair, renovation and emergency repairs) to both B2C and B2B customers. This acquisition is fully aligned to Belron's service extension strategy. Belron will partner with Groupe Prunay, the prior 100% owner, to develop the business.

Maisoning Group was created in 1967 and has developed into a national home repair business which currently serves approximately 120,000 customers per annum, employing almost 400 people, including 200 technicians and skilled tradespeople. The company generated over EUR 40 million of revenues in 2016.

Belron identified the home repair market as one in which it could utilize its skills and expertise in order to bring value to both final clients and insurance partners through the provision of a branded, high quality service solution. This acquisition represents Belron's first foray into the home repair market in Europe.

Groupe Prunay has owned Maisoning Group since 2010 and believes that the combination of the business with Belron's Carglass business in France will provide it with the best opportunity for future development. Groupe Prunay will retain a 20% interest in the business and will continue to support its development.

Axel Miller, CEO of D'Ieteren, said 'This acquisition is a new step forward for Belron's service extension strategy, which is perfectly in line with its purpose of Making a Difference by Solving People's Problems with Real Care. '

More information about Maisoning: www.maisoning.com

End of press release

Group profile

In existence since 1805, and across family generations, D'Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The group has currently three activities articulated around strong brands:

• D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of around 22% and 1.2 million vehicles on the road at the end of 2016. Sales and adjusted operating result reached respectively EUR 3.1 billion and EUR 75.8 million in FY 2016.

• Belron (94.85% owned) makes a difference by solving people's problems with real care. It is the worldwide leader in vehicle glass repair and replacement, trading under more than 10 major brands including Carglass®, Safelite® AutoGlass and Autoglass®. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Sales and adjusted operating result reached respectively EUR 3.3 billion and EUR 190.7 million in FY 2016.
  
• Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across 102 countries. Sales and operating result reached respectively EUR 145.2 million and EUR 34.0 million on a stand-alone basis in FY 2016.

Contacts

Axel Miller, Chief Executive Officer

Arnaud Laviolette, Chief Financial Officer

Pascale Weber, Financial Communication - Tel: + 32 (0)2 536.54.39

E-mail: financial.communication@dieteren.be - Website: www.dieteren.com

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