OptiGroup, a major player in the European B2B distribution market, has announced its acquisition of Top Service GmbH, a well-established German distributor with more than 30 years of experience.
In addition to food packaging, Top Service specialises in tabletop products, and cleaning and hygiene items.
This strategic move marks OptiGroup’s entry into the German market, enhancing its position as a leading distributor of critical business essentials in Europe.
Strategic growth and market consolidation
With a turnover of approximately €25m ($27.51m as of today) and a dedicated team of roughly 40 employees, Top Service has solidified its standing as a leader in critical facility management products, serving renowned restaurants and hotels in the Bavarian region.
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OptiGroup’s decision to acquire Top Service aligns with its international growth strategy, aiming to consolidate the fragmented European B2B distribution market, estimated at €150bn for OptiGroup’s key segments.
This acquisition is part of OptiGroup’s broader strategy, involving selective add-on acquisitions to secure leading positions in attractive market segments across Europe.
The move into Germany is particularly significant, as the country remains a priority market for OptiGroup’s core segments.
With a successful track record of synergistic acquisitions, including recent ones such as Van den IJssel Bedrijfskleding BV in the Netherlands, OptiGroup has maintained strong financial performance and a robust balance sheet, supported by positive cash generation and recent fundraising of €100m in additional debt.
Continuity in leadership and operations
The founder and management team of Top Service, led by Andreas Zapp, will remain actively engaged in the company post-acquisition. Top Service will integrate into OptiGroup’s Business Area Facility & Safety, operating under its current brand.
The parties involved have chosen to keep the financial terms of the transaction confidential, with the completion expected in the first quarter of 2024.