BREMBO Acquires 100% stake in J.JUAN Group
Brembo has signed an agreement for the acquisition of a 100% stake in the J.Juan Group, a Spanish company specialising in the development and production of motorcycle braking systems.
The transaction, Brembo says, forges ahead with a path to become a trusted solution provider in the market. 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.
“We are proud to welcome J.Juan in the Brembo Group,” stated Alberto Bombassei, Chairman of Brembo. “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.”
“We are glad to join the Brembo Group,” stated José Luis Juan, CEO of J.Juan. “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.”
Founded in 1965, J.Juan is based in Gavà (Barcelona) and has three plants in Spain and one in China, manufacturing especially brake hoses, a strategic safety component for braking systems that will complement the current range of Brembo products for motorbikes.
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 €73 million.
The acquisition is subject to the approval of the Antitrust authorities, following which the closing is expected to occur in the second half of 2021.