The Tecnica Group has acquired Austrian ski manufacturer Blizzard Gmbh. The acquisition is subject to the official approval of the Austrian Antitrust Authority. Tecnica, through its Nordica subsidiary (100% controlled by Tecnica) will acquire 66.66% of the Blizzard Sport Gmbh shares. The remaining shares will be owned by Karl Hofstatter, current CEO of Blizzard.
“Blizzard is a very dynamic and improving company, with tremendous know how in the production of skis”, said Giancarlo Zanatta, President and CEO of the Tecnica Group. “Its capability and heritage are in technology and manufacturing. These assets will give the Tecnica Group a strong and effective competitive advantage, and complement our Nordica ski development and production. Moreover, it allows us to continue to strengthen the Blizzard brand.”
Karl Hofstatter, CEO of Blizzard Sport Gmbh agrees. “The Tecnica Group is a strong and reliable partner. This acquisition will allow us to continue our international growth. We are very satisfied with this agreement and look forward to benefits from the synergies available between Tecnica and Blizzard. One of our first steps will be to partially integrate Nordica ski production in the Mittersill factory. In doing so, we expect to achieve immediate synergies in raw material purchasing, ski production, and research and development of new products for both Nordica and Blizzard.”
Eventually, both companies will also benefit from the new Blizzard production facility in the Ukraine, scheduled to begin production in January, 2007. Blizzard will also utilize the international strength of the Tecnica Group to improve its international sales and distribution network.
The Tecnica Group, led by G. Zanatta and F. Vaccari, expect this acquisition to strengthen the position of both companies in the international winter sport equipment market. In addition, the company expects the acquisition to moves Tecnica Group turnover beyond 400 million euro.
