Sonepar Acquires CioffiRenato in Italy
August 4, 2022
Sonepar has officially signed an agreement for the acquisition of 100% of shares in CioffiRenato.
Founded in 1974, CioffiRenato is a company active in the distribution of electrical material operating in the Lecce province, with its headquarters in Casarano.
In 2021, with its two branches serving all the area, the company recorded sales of around €10 million. It employs 17 associates and 2 sales representatives.
Thanks to this acquisition, Sonepar, already present in Puglia with six branches, will strengthen its business in the region.
“CioffiRenato is a well-known company for the quality of the service provided to customers. Now that the two branches will become part of the Sonepar Group, they will benefit from new services, enhanced assortments, and a renewed and strong presence in the area. We will operate in synergy and continuity with what the Cioffi family has done so far. Puglia is a key region, a driver for growth for the entire south division; a few years ago, we invested in improving the distribution center in Modugno (BA), which serves all the provinces in a capillary and efficient manner”, stated Sergio Novello, President, Sonepar Italia.
“We are delighted that our company, founded 48 years ago and strongly rooted in our territory, has the opportunity to enter the largest organization for the distribution of electrical material, in Italy and in the world. We know the potential of this Group and we appreciate the development strategy in the Lecce province, guaranteeing continuity to the business”, commented Renato Cioffi, Chairman, Carlo Cioffi, CEO and Sales Director, and Roberta Cioffi, Board Member and Back-Office Manager.
