case study hubert: long-term value creation and …€¦ · case study hubert: long-term value...
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CASE STUDY HUBERT:
LONG-TERM VALUE CREATION AND GROWTH
Case Study Hubert: Long-term value creation and growth
2 Case Study Hubert | TAKKT 2017
… TAKKT acquired Hubert, a leading supplier in the U.S. market of foodservice
equipment. Bart Kohler was President & COO of Hubert and selling the company for
the owners, the Hubert family.
At that time, Hubert generated a turnover of ~ USD 90 million.
Bart Kohler decided to stay with the company also after the acquisition.
In 2000, …
Case Study Hubert: Long-term value creation and growth
3 Case Study Hubert | TAKKT 2017
… Hubert has an even stronger position in its market, and is the core of the three TAKKT divisions
Merchandising Equipment Group (MEG), Restaurant Equipment Group (REG) and Displays Group
(DPG) which consist of 5 brands that generated turnover of ~USD 430 million in 2016 (>50% of it
online).
Bart Kohler continued at the top of Hubert until the end of 2016 when he left the day-to-day business
and became President of TAKKT America.
Today …
Case Study Hubert: Long-term value creation and growth
4 Case Study Hubert | TAKKT 2017
Strategic development:
• Expansion of the assortment
• International roll-out: First to Canada , then to Europe
• Infrastructure investments (new warehouses, solar roof installation, new webshops)
• Add-on acquisitions:
• Central Restaurant Products: Distributor of restaurant equipment and supplies
• GPA / Displays2Go: Distributor of display products
• Post-Up Stand: Distributor of customized display products
Acquisition of
Hubert
Market entry Europe
via Germany
Acquisition of
Post-Up Stand Market entry
Canada
Market entry
France
Acquisition of
Displays2Go
2000
2005
2006
2009 2010
Market entry
Switzerland
Acquisition of
Central
2009
2015
2012
Warehouse
expansions
2007
Foundation
Retail Resource
2008
2012
Solar roof installation
Hubert HQ
Opening Hubert
Asian Sourcing
2014
New Hubert
Distribution Center
2015
Case Study Hubert: Long-term value creation and growth
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Turnover development (USD million):
• Hubert first was used as a platform for the establishment of a new segment (Specialty Products
Group), which was divided into the three new divisions MEG, REG and DPG beginning of 2017.
• Despite the high growth and the add-on acquisitions TAKKT succeeded in maintaining the
profitability.
2000 2016
88
~430
DPG
USA
REG
Hubert Canada / Europe, founded in 2005 / 2007-2010
Case Study Hubert: Long-term value creation and growth
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2005: Market entry Canada 2006: Market entry Europe
Major investments in roll-out of the Hubert business model to new countries
Case Study Hubert: Long-term value creation and growth
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2008: Foundation Retail Resource
Retail Resource was a greenfield startup that targets non-food retail establishments
Case Study Hubert: Long-term value creation and growth
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2009: Acquisition of Central Restaurant Products
• Central is a distributor of restaurant equipment and supplies in the U.S.
• Annual turnover at acquisition: USD 70 million
• Annual growth 2009 – 2016 considerably above the TAKKT average
Case Study Hubert: Long-term value creation and growth
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2012: Acquisition of GPA / Displays2Go
2014: Opening of the new warehouse
in Fall River, Massachusetts:
• GPA is a distributor of display products, selling mainly online under the brand Displays2Go
• Annual turnover at acquisition: USD 51 million
• Annual growth 2012 – 2016 considerably above the TAKKT average
Case Study Hubert: Long-term value creation and growth
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2012: Solar roof installation
Hubert HQ
The development of Hubert is supported by major investments in sourcing and logistics capabilities
2015: Hubert opens new
warehouse in Nevada
2014: New Hubert sourcing
office in Hong Kong
Case Study Hubert: Long-term value creation and growth
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2015: Acquisition of Post-Up Stand
• Post-Up Stand is a distributor of customized display products, mainly banner stands
• Annual turnover at acquisition: USD 16 million
• Turnover growth considerably above the TAKKT average
Case Study Hubert: Long-term value creation and growth
12 Case Study Hubert | TAKKT 2017
2017: Reorganization of the SPG – division into 3 segments:
• The Specialties Group (SPG) has become too big and complex, which is why it is divided into MEG,
REG and DPG.
• Bart Kohler becomes President of TAKKT America.
formerly SPG
Case Study Hubert: Long-term value creation and growth
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More to come ….
Further growth opportunities:
• new products
• adjacent markets
• international rollout
• investments into people, systems, facilities