Cuatrecasas has advised Grupo Halcón on its acquisition of the industrial assets of ceramic producer Cicogres
Grupo Halcón, a Spain-based, global leader in ceramic tiles, announces the acquisition, through Insolvency proceedings, of the industrial assets (including five modern production lines with large format capabilities), brand and catalogue of Cicogres, S.A., a Castellón-based ceramic tile producer with an impressive track record of innovation over more than 30 years of operations, as well as the transfer of the current workforce of Cicogres, S.A. (166 employees) to Grupo Halcón.
This transaction will reinforce the leadership of Grupo Halcón in the global ceramic tile industry, increasing production capacity by 10 million square meters per year, to a total of approximately 50 million square meters (including the two new lines discussed below) across 21 production lines, and generating sales exceeding €250 million across three established brands. Grupo Halcón will reinvigorate the Cicogres brand by launching a new catalogue of on-trend designs while continuing to supply historical formats.
Francois Brendel, CEO of Grupo Halcón, noted: “We are very excited about the addition of valuable, plug-and-play assets from Cicogres – the transaction is a reflection of the group’s vision to supplement organic growth investment with accretive acquisitions. We are proud to welcome Cicogres’s team, recognized for professional service and quality manufacturing. With support from Falcon Private Holdings, the group’s majority shareholder since 2018, Grupo Halcón will continue to seek additional avenues for growth across geographies and channels.”
Cuatrecasas advised Spanish ceramic tile producer Grupo Halcón on acquiring—through insolvency proceedings—the industrial assets of Cicogres, a Castellón-based ceramic tile producer, with a track record of innovation over more than 30 years of operations.
Joint teams from the Cuatrecasas Barcelona and Valencia offices advised on the transaction, led by Barcelona office Litigation partner Javier Sánchez (pictured top left) and M&A partner Alejandro Payá (pictured top right), with the participation of lawyers Víctor Caballero and Álvaro Cuesta (Litigation and Arbitration); Xavier Morera and Jordi Vergoni (Corporate and Commercial); counsel Victoria Villanueva (pictured bottom left) and lawyer Andrés Bolás (Labour and Employment); and Tax counsel Carlos Ramírez (pictured bottom right).