Alberto Cristina (left) and Marco Caleffi (right) shake hands on the acquisition of Cristina by Caleffi, parent company of Altecnic.
This was a momentous business transaction between two entrepreneurs - Marco Caleffi and Alberto Cristina - who reached a full agreement on all aspects of the deal.
Commenting on the acquisition, Caleffi's group chairman, Marco Caleffi, said: 'I wish to think that now that Cristina has entered the Caleffi Group, the handover will be exceptionally smooth. Cristina belonged to Alberto and to his father before him, so it has always been a priority for him to leave his company to someone he trusts, someone who would ensure that day-to-day running carries on as it always did.'
He added: 'A company is not only made up of processes and products, but also of dedication to the job, local contacts, investments and constant attention. In view of this, having become the chairman of Cristina is more of a matter of pride to me than a mere business deal.
'Cristina is a solid brand with an amazing background, a high product positioning and a reputation for innovation and fine design both in Italy and abroad. This is why, as a brand, Cristina deserves to be guided and steered along a path of progressive growth which will protect its product and brand identity.'
Daniele Mazzon, newly appointed general manager of Cristina Srl, explained: 'It is our firm intention to keep Cristina's Italian distribution and commercial network separate from Caleffi's. But we are convinced that pooling our strengths to some extent and drawing on Caleffi's well-established logistics network in foreign markets will prove to be an excellent opportunity for Cristina to evolve and explore new openings.'
As for any new project, the energy generated will lead to new future plans being drawn up. In Cristina's case, these plans relate to developing the corporate structure and launching marketing actions which put a focus on new design solutions for bathroom taps and fittings, as well as on the strategic role of the Cristina Brera showroom that was recently opened in Milan.
The Caleffi Group, which is the Italian heart of an international group active in over 70 countries worldwide, has chosen to diversify, entering the market of taps and fittings to ensure continuity and future growth for the Cristina trademark. It is a binding promise.
Alan Sherwin, managing director of Altecnic said: 'This new group acquisition is very exciting news for the future development of the Cristina brand here in the UK and the product offering and services to its customers.'