MILAN — Brembo, arguably the biggest brake brand by reputation and name recognition, is eyeing an acquisition target of “significant size,” possibly even as big as the Italian brake maker itself, Executive Vice-President Matteo Tiraboschi was quoted saying in a newspaper interview published on Thursday.
Tiraboschi told daily newspaper Il Sole 24 Ore that Brembo was looking for potential acquisitions outside Italy, especially in Europe and the United States. The executive also said the company is shopping in China.
“It must be a healthy company of a certain size – with good numbers, technology and r&d — that fits our business,” he told Il Sole 24 Ore.
Earlier this year Brembo‘s shareholders approved a loyalty share plan that would allow the family that owns the company to retain control as the company looks to expand through acquisitions.
Auto business accounts for nearly three-quarters of Brembo’s revenue, with the remaining 30 percent split among motorcycles, racing and aftermarket/commercial vehicles.
Source: Automotive News Europe