Smit & zoon acquires Italian leather chemicals company
02/11/2017
Based in Santa Croce sull’Arno in the heart of the Tuscan tanning cluster, Codyeco makes a full range of leather chemicals, including wet-end, finishing and beamhouse products. This, as well as what it has called Codyeco’s “dedication to the leather industry” and the support this move offers to its growth strategy, prompted Smit & zoon to make the acquisition.
It went went on to say that current customers of both companies can expect to benefit. There will be a broader product portfolio, additional strength in regards to product innovation, with a keen focus on making the leather value chain more sustainable.
In additional comments at the time of the announcement, Smit & zoon owner, Marc Smit, said the acquisition will also be a welcome return for Codyeco employees to a family-company set-up. He said: “As a seventh-generation family business, Smit & zoon has a long-term focus and the generations to come are naturally top of mind. Before its acquisition by Star Capital in 2013, Codyeco was a family-owned business, just like Smit & zoon. With this acquisition, we will bring Codyeco’s employees back to their heritage, being part of a family business.”
Smit & zoon chief executive, Hans van Haarst, said that the broader product portfolio the companies will be able to offer includes beamhouse chemicals, wet-end auxiliaries, fatliquors, syntans, dyes and finishing chemicals. He pointed out that Smit & zoon is specifically strong in the automotive and upholstery leathers, while Codyeco’s main strength lies in the luxury shoe and leathergoods segment. He added: “Codyeco will benefit from Smit & zoon’s global network and its complete range of fatliquors, syntans and pigments. I am confident that together we will form a very strong combination with impactful presence in all market segments.”
For his part, Codyeco chief executive, César Knebel, said he believes the merger will allow the two companies to “have a bigger impact at a faster pace” on efforts to make the leather value chain more sustainable.
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