Well-known Mayo based company acquired by Dutch group

A well-known Mayo company has been acquired by an industry leading group located in the Netherlands.

Kramp today, in a joint-statement, announced the acquisition of Genfitt in Kiltimagh and added that it is expected that the coming together of the two businesses will strengthen Genfitt's position in the Irish market.

Genfitt, which was established in 1973, are well-known throughout the region as the largest independent wholesale supplier of components, machinery parts and spares to the agricultural industry in Ireland. The company were also a close sponsor of Mayo GAA for many years.

Working from their distribution hub in Kiltimagh, they can dispatch orders to any part of the country within 24 hours. Kramp stated they too have a similar history, having been founded over 70 years ago by Johan Kramp in Varsseveld, Netherlands. They now operate in 24 countries and aims to become the essential partner in parts and accessories for the agricultural industry.

In the statement, Kramp said: “Strengthening its position in Ireland is an important next step in Kramp realising its growth ambition, given the significance of the Irish agricultural industry. As part of its growth strategy, we seek strong partners with whom we can build long-term relationships and generate mutual benefits. Genfitt’s leading position in the Irish market is rooted in its commitment to service excellence, technical and market expertise, a loyal customer base and a diverse product portfolio.

“The similarities between the two companies make the move a great fit. Together, we will continue to build an even stronger presence in Ireland. Customers will gain access to a wider assortment, improved delivery times, and an additional network of suppliers, partners, technical knowledge, and services.”

Paul Duggan, one of the selling shareholders, added: “The owners are proud of what Genfitt has achieved since they acquired the business in 2005 and have been delighted to support the business and its staff to its 50th anniversary. Kramp is the best possible owner of the business for the next 50 years, and the business will develop in a way which would not have been possible without Kramp’s ownership.”

Kramp Group CEO Eddie Perdok concluded: “In bringing Kramp and Genfitt together, we will become the essential partner in the Irish agricultural industry. I’m proud to be back in Ireland, 15 years after McHugh and Kramp decided to go their separate ways. Together with Genfitt, we create a strong company based on highly competent teams, leading brands, and state-of-the-art operations. We strive to accelerate Genfitt’s growth in Ireland by broadening the product portfolio and leveraging Kramp’s digital capabilities. Based on these factors, we will further develop and strengthen our market position in Ireland”.

Kramp announced that it will be business as usual for the next period as they proceed with the integration step-by-step. They will keep their partners informed as they proceed.