ITALIA - The Saviola Group takes the majority stake in Rheinspan, a German company specializing in the production of panels for the furniture industry.

After the strategic joint venture announced in December 2019 between the two companies and the subsequent closing signed in June 2020 which split the shares 50% between the Nolte family and the Saviola Group, an agreement was signed to increase the shares of the Italian Group by a further 24.9%. Saviola Group therefore reaches the majority of Rheinspan with 74.9%.

Pending final antitrust approval, Saviola will be responsible for running the company. Georg Nolte (Rheinspan) will remain closely associated as a minority shareholder. "We are pleased to have taken this step with the same conviction that led us to face this challenge three years ago," commented Saviola Group President Alessandro Saviola. According to his own statements, he wants to advance the internationalization of the group together with Rheinspan.

The Saviola Group, based in Viadana (Mantua), specializes in the production of panels from 100 percent recycled wood. With processing technologies capable of treating all wood waste and through its Eco-wood network, it is able to collect 1.5 million tons of used wood each year, which feeds the production process. Saviola has 14 plants around the world, 1,500 employees, and revenues of EUR 750 million  in 2021.  Revenues for 2022 are estimated to reach EUR 850 million, driven in part by price increases on raw materials.