The caddy supermarket trolley maker finally found a buyer after a collective procedure with a twist and rotation. In fact, the Chamber of Commerce of the Court in Saverne (Baran) accepted a takeover offer by the northern group Coches on Tuesday, March 22. The latter, who are active in outstanding transportation and industrial services, have been prominent in the past with several business acquisitions, from Petit Pierre’s canning factories to curry shoelaces. The name of the caddy, the unique character of the Alsace factory, and the skills of its employees convinced him to participate in the first project developed by Caddy CEO Stephen Dedieu.
Therefore, the new company, Caddy SAS, will take over the assets of Caddy France for € 250,000 and will take over 113 of the 139 employees. Pascal Cochez is the majority shareholder and holds 66% of the shares. It will provide equity of € 495,000 and current funding of € 300,000. The consortium, led by Stéphane Dedieu, brings together multiple suppliers of trolley makers and Italian distributors of the brand, bringing 34% of the capital to € 255,000.
The financial round will be complemented by assistance in the acquisition of the Grand Est region of € 4,000 per employee (that is, a total of € 452,000) and a subsidized loan from the state of € 418,000 over a six-year period. It is far from the € 3.8 million announced by the former leader at the first hearing at the end of February. Buyers have not succeeded in obtaining a banking commitment with this file, except for a € 3 million factoring agreement last-minute negotiated by Pascal Koches to cover the company’s working capital needs. As a result, the acquisition project has been revised downwards, the plant expansion originally planned for the first year has been postponed to 2023, and inventory forecasts have been reduced to one month compared to the previous two months.
“Reduce the number of references”
Raising the standard still remains. “We plan to resume production in-house, such as trolleys for the hotel industry currently manufactured in Italy. We will also reduce the number of references and focus on the most requested ones. The key to recovery is Is also to pass on the rise in production costs to the selling price. “Pascal Coches says.
At this last point, the caddy can paradoxically take advantage of the current period, which makes price increases inevitable in the eyes of the customer. The manufacturer will also soon change its general manager. “We need a business management expert who knows the costs. This is where the company was primarily guilty. He also manages, given what employees have experienced in the last few months. You have to be an expert.Emphasize entrepreneurs.
However, its predecessor is not moped. Stéphane Dedieu remains the director of Caddy SAS. In particular, he maintains his commitment within the 15 or so companies in which he is a board member and even CEO. And for many of them, who is drawn into the Caddy Galaxy as a service provider or supplier?