Both Italian and both operating in the kitchen sector, Steel Cucine and Elica are starting a new strategic path, after signining an agreement, which involves Elica's entry with a 28% stake in Steel's capital. This operation, with a progressive acquisition mechanism over the coming years, represents a decisive step for the growth and internationalization of Steel Cucine, recognized for the production of professional kitchens for domestic use and high-end outdoor solutions. The partnership with Elica, Italian important group in the cooking and domestic ventilation sector, will allow Steel to amplify its presence in high-potential markets, particularly in North America, and develop new industrial and commercial synergies also in Europe.
«We have found in Elica a development project that enhances our expertise and gives us the opportunity to accelerate our growth path through their distribution strength in North America and Europe – commented Auro Po, chairman and chief executive officer of Steel . It is a project that preserves Steel's identity and know-how and that of its employees, which will see current management collaborate together with Elica to make our company even stronger».
Thanks to this alliance, Steel will be able to count on a broader and more structured distribution network, consolidating its position in strategic markets such as the United States and Canada. At the same time, the brand will be able to access new resources and expertise to evolve its industrial process, maintaining focus on design, performance and manufacturing. The agreement marks the beginning of a new phase for Steel, founded on continuity, mutual trust and a common long-term vision. A phase that combines entrepreneurial solidity and international vision, without renouncing its nature as an independent and distinctive brand in the landscape of design applied to kitchens.
