International. Robertshaw signed a definitive agreement with Star Capital SGR and other shareholders to acquire 100 percent of CastFutura S.p.A., a supplier of combustion, safety and ignition products for cooking and heating applications.
Since its founding in 1969, CastFutura has built a strong reputation and track record of innovative and reliable products for gas systems including burners, thermocouples, spark plugs, lighters, and switch harnesses.
"As part of Robertshaw's growth strategy, the acquisition of CastFutura expands our kitchen presence in Europe, South America and the Middle East and reinforces Robertshaw's commitment to our customers and the markets we serve," said Mark Balcunas, CEO and President of Robertshaw.
"We are excited to join the Robertshaw Group and see this as an opportunity to build on our successes and improve the market penetration of our product range globally," said Marco Bonfigli, Ceo of CastFutura.
CastFutura employs approximately 750 employees and operates six manufacturing facilities worldwide, along with its headquarters and engineering center in Terno D'Isola, Italy, which is located approximately 30 miles from Milan.
The closing of the transaction is subject to the usual conditions precedent, including the authorization of defense of competition.
