Italian brake manufacturer Brembo has acquired Danish brand SBS Friction A/S, which manufactures the SBS line of brake pads. With the takeover, Brembo will have 100 per cent ownership of the Danish company, which develops and manufactures sintered and organic material brake pads for motorcycles. The agreement is that Brembo will pay an amount of 224 million Danish Kroner, equal to approximately 30 million Euros (around Rs. 267 crore), which will be paid using available cash, and the agreement is expected to be finalised in the first quarter of 2021. SBS Friction A/S is valued at 300 million Danish Kroner, equal to about 40.3 million Euros (Rs. 358 crore).
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Brembo will own 100 per cent of Danish company SBS Friction A/S, which makes brake pads with the SBS name
"We are particularly glad to welcome SBS Friction in our Group", stated Alberto Bombassei, Chairman of Brembo. "Despite the highly complex market context, Brembo has maintained its natural propensity to invest in innovation. This acquisition is an important step in our strategy: it enables us to integrate even more specific competences in a key sector, to further strengthen our range of 'made-in-Brembo' solutions for the benefit of our customers."
"Brembo has long been a trustworthy partner that knows the value of SBS Friction's technological knowhow and its strong niche position", stated Peter Eriksen Jensen, Chairman of SBS Group. "We are pleased that SBS Friction will get a strong, long-term, industrial owner who will support the company's continued development. The transaction is a good solution for SBS Group, SBS Friction, the employees, and the city of Svendborg."
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SBS employs nearly 200 people in its headquarters, but it's still not clear if the SBS brand will continue to remain, as a subsidiary of Brembo, or if the company's products will be rebadged as Brembo in future.
