Acquisition of Pilsa Group
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ECF Group announces the acquisition of Pilsa Group, Spain’s leading distributor of equipment and professional kitchen installer in the Foodservice market. With this transformative acquisition, ECF Group consolidates its European presence in one of the continent’s most dynamic markets, strengthens its expertise in Professional Kitchen Equipment and opens up export prospects in Central America and the Middle East. ECF Group is the only international Food Service operator with a presence in France, Europe & Middle East, and Australia & Pacific.
ECF announces the acquisition of Pilsa Group, based in Granada, Spain and also present in Mexico and the Dominican Republic. With €70m of sales, Pilsa has become a key player in the market, both as a distributor of foodservice equipment and as the undisputed leader in the design & installation of professional kitchens, thanks to its long-standing expertise in large-scale kitchen projects for hotels and restaurants.
Renowned for having built the kitchens for fast-growing hotel chains and restaurants in Spain and the Caribbean, the Group has also developed expertise in the distribution of small equipment, thanks to increasingly close relationships with international brands, a relevant logistics network and highly adaptable teams. This development has also been made possible by the Group’s multi-channel profile, with several stores (Granada, Cancún) and showrooms (Granada, Barcelona, and Punta Cana).
With this operation, ECF Group continues its external growth activity. With 15 acquisitions in the three years since the end of the COVID crisis, the Group has been able to penetrate new markets (Italy, New Zealand, Germany, Austria) and strengthen its leading position in its existing geographies (France, Australia, Middle East). The acquisition of Pilsa supports this strategy, with the Group now a leading player in Spain and the Caribbean. ECF Group is now present in 16 countries, with a comprehensive range of services (small equipment, hygiene, heavy equipment).
Pilsa’s current teams will pursue its development strategy after the transaction, under the joint leadership of Javier Lopez Bolivar (historical leader and member of the founder’s family) and Jose Cassinello (Managing Director). Pilsa will become part of the ECF EMEAI (Europe, Middle East, Africa, India) Business Unit, headed since 2023 by Bertrand Ferraton. The integration of Pilsa will enable the rapid deployment of commercial synergies, thanks to the Group’s wide range of own-brands and partnerships with major international brands, as part of an ongoing drive to improve its offering.
ECF Group would like to credit the Lopez Bolivar family, and particularly Mr. Miguel Lopez Muñoz, for their success over more than 60 years. The founder family will retain a role in the future organisation, with Javier and Miguel Angel Lopez Bolivar remaining with the Group after the transaction.
This major transaction underlines the determination of PAI Partners, the Group’s majority shareholder since October 2023, to pursue and intensify ECF Group’s consolidation strategy.
Christophe ALAUX, ECF Group Chairman and CEO:
« The Spanish market is a strategic one for Food Service – very dynamic and with great potential for growth and consolidation. Pilsa is the right group, in the right country, at the right time. This acquisition strengthens our European leadership and puts us well ahead of all our competitors ECF Group is now able to support its customers in both large-scale kitchen and small equipment projects, in their domestic and international markets ».
Bertrand FERRATON, ECF EMEAI CEO:
« The acquisition strengthens the Group’s existing presence in Kitchen projects around Gastrototal (Germany & Austria), Reward and Mariljohn (Australia) and Southern Hospitality (New Zealand) with a unique capacity for export projects. The ECF teams are looking forward to welcoming the Pilsa teams into the group to complement the service offering and to continue together the history developed by the Lopez Bolivar family over the last 60 years ».
Javier LOPEZ BOLIVAR, Pilsa CEO and shareholder:
« For our family, this agreement means leaving our company in the best possible hands. Pilsa becoming part of the ECF group is undoubtedly the best option to give impetus to the project that the family has been developing over the years with so much effort and affection. My brother Miguel Angel and I are grateful for the opportunity to participate in such an ambitious project, in which we will put all our effort and knowledge».
The Completion of ECF Group’s acquisition of Pilsa is subject to customary signing to closing conditions.
Advisors
Buyers
ECF Group: Christophe Alaux (Chairman), Arnaud Louet (CFO), Bertrand Ferraton (ECF EMEAI CEO), Augustin Dupont (M&A Director)
PAI Partners : Mathieu Paillat, Marlène Bazouin, Abigail Aron
Sellers
Lopez Bolivar Family
Buy-Side Advisors
Legal – Perez Llorca: Francisco Iso Rivera, Javier Bau Cabestany, Rita Royo
Finance – EY: Anca Mihaela Butoi, Stéphane Vignals, Antonio Gancedo Via
Tax – EY: Cédric Devouges, Arnaud Morin, Youssef J’mila
Sell-Side Advisors
M&A – Haya Capital: Javier Munoz Rojo, Javier Garcia Martinez