KIRCHLENGERN, Germany — The Hettich Group from Germany plans to acquire all the shares in the Italy-based FGV Group, manufacturers of furniture hardware including hinges, drawers, slides, hanging brackets, alternative openings, and sliding systems.

The deal is subject to the approval of antitrust authorities. Financial details of the merger were not disclosed. 

Following the merger, Hettich and FGV intend to complement each other's strengths to continuously develop existing business activities and offer their customers added-value solutions.

"We – Hettich and FGV – are two family-owned companies with a long history in our common sector, the furniture fittings industry. We look forward to moving into the future together soon, learning from each other and becoming even more powerful together, keeping client interest and satisfaction as an absolute priority," said Dr. Andreas Hettich, shareholder and Chairman of the Advisory Board of the Hettich Group.

Renato Formenti, Chairman of the Board of FGV, said, "Hettich is a world market leader that, like us, has a great deal of experience in furniture fittings. FGV would like to bring its know-how and flexibility together with the Hettich Group as soon as possible in order to develop successfully together in the future and grant a bright future to FGV management and employees."

As both Hettich and FGV will remain independent brands and companies within the overall Hettich Group, customers of both companies will retain their familiar contacts even after the planned merger, so customer service will continue as usual. The experienced management teams at Hettich and FGV will ensure the necessary continuity and ongoing joint development. 

In a combined statement, Silvana Riboldi, head of sales at FGV, and Uwe Kreidel, managing director of sales and marketing at Hettich, said "We will work together in the background in a closely networked manner in future. Our customers will continue to receive the service from their established contacts, each of whom they know and appreciate."