Mutares portfolio: Artmadis expands into Belgium

Artmadis, a portfolio company of mutares AG (ISIN: DE000A0SMSH2), is the leading distributor for tableware and kitchenware in France. Over the past years the company has been growing organically by leveraging its well established business relationships to French retail chains. Now it accelerates its expansion in the Belgian market through the takeover of the distributor Verbeelen.

Artmadis is the leading French wholesaling company of glassware, tableware and kitchenware. It supplies all major French retail chains as well as furniture stores and e-commerce retailers. In 2015, it generated revenues of EUR 76m and an operative result (EBITDA) of EUR 3.3m.

mutares acquired the company in 2012 and successfully repositioned it by introducing a more comprehensive category management as a value-adding service to its customers. Therefore, Artmadis established a dedicated sourcing team in its newly opened Hongkong office. Its own brands “Novastyl” and “Menastyl” have been extraordinarily successful besides the existing lines of well-known branded and licensed products for example from Pyrex, Victorinox or Le Parfait.

Through the acquisition of Verbeelen, Artmadis gains a stronger foothold in the distribution of glassware and tableware to hotels, restaurants, and cafes (HORECA) in Belgium. Verbeelen is a supplier of renowned brands like Rosenthal and Stoelzle.