Esprinet will focus its strategy on the value business after the purchase of Vinzeo

Both companies will operate independently and will maintain both names, logistics infrastructure as a management team. For the Italian firm, this acquisition represents its consolidation in the Spanish market and another step in its commitment to the value business..

Last week Esprinet announced the agreement signed with the IBV Corporation (formed by BBVA and Iberdrola) to buy the wholesaler of computer distribution and telecommunications devices, Vinzeo Technologies. The perimeter of this operation, valued at 57,6 million, 74 million euros including all expenses, only includes wholesale distribution activities. Considering this perimeter, and according to preliminary data from the 2015, The sales of the acquired activities amount to about 584,4 million euros, with reported EBITDA of 7,5 million.

This operation, which is awaiting Competition authorizations and is expected to be completed at the end of June, It means consolidation in the Spanish market for Esprinet. “We have a leadership position in the traditional IT and Consumer Electronics area but not in the value business”, explains Alessandro Cattani, board member of the Esprinet Group and president of Esprinet Ibérica.

Vinzeo's origins date back to the year 2000 and is currently the fourth ICT wholesaler in Spain, with a portfolio of 20.000 products, and has distribution contracts under its belt, both in the ICT area of ​​volume (like Acer, Apple, Asus, HP, Lenovo, LG, Samsung o Toshiba), as in the value range (particularmente Hewlett-Packard Enterprise).

This ecosystem will allow Esprinet to strengthen its value business, on which it has its sights set as a strategic focus, and will also allow you to improve your positioning with partners such as El Corte Inglés. With this operation, The Italian company hopes to achieve leadership in the Spanish distribution market, strengthening its portfolio in the smartphone division (products and customers), along with a new distribution contract from Hewlett-Packard Enterprises, and the distribution of products through data centers, which completes Esprinet's current Spanish activity.

From a commercial point of view, This operation allows expanding business opportunities for clients who can benefit from an integrated and one-stop procurement platform that includes both data center products and telephone accessories..

Once the validation of the Competition Court is completed, Both companies will operate independently. The management teams will be maintained with María García as general director of Esprinet Ibérica, and Javier Bilbao, in Vinzeo. As Cattani explains, “The team of both companies is very strong and we do not want to lose the experience and quality of these people. “We want to create an environment where manufacturers and customers can feel more comfortable”. Besides, An Integration Committee for commercial coordination will be created “to launch the best strategies to the market” which will be formed by María García, Javier Bilbao y Cattani.

The logistics of both companies will continue as before., maintaining Vinzeo warehouse in Daganzo (Madrid) and that of Esprinet in Zaragoza, “since this infrastructure will facilitate distribution by zones. We think it makes sense to have two distribution centers. Manufacturers and wholesalers will be able to decide with whom and how they want to work. Later, It will be the market that sets the guidelines to follow in the future. It is not ruled out that changes will be made over time, but they will be in accordance with the evolution of the processes.", says Alessandro Cattani.

With this acquisition, Esprinet has made a strong commitment to Spain where Cattani claims to see great business potential and where it hopes to generate important synergies by increasing a factor of 1,8 the scale of its operations in the country. Looking to the future, The company does not rule out the possibility of making new purchases “although they will not be large companies.”. We do not want to invest in many places but rather become strong in Spain, Italy and Portugal where we have just opened a headquarters. “We prefer to be focused on what we know”.