Ratos company HL Display acquires Display Italia


HL Display is acquiring Display Italia with a revenue of EUR 10M. The acquisition will strengthen HL Display’s customer base and position as a leading supplier for in-store merchandising and communication solutions to grocery retailers in Europe. The enterprise value is approximately EUR 8M corresponding to an EV/EBITA multiple of 5x.

Display Italia, based in Reggio Emilia, in northern Italy, has an annual sale of EUR 10M and employs 38 people. Founded in 1989, Display Italia has built a strong position in Italian retail, catering both to grocery retail, pharmacies and branded suppliers.

“With the acquisitions of Display Italia, HL Display has now completed its third bolt-on acquisition in 2021, in line with its communicated strategy. The acquisitions strengthen HL Display’s overall business, are strategically important and contribute financially through cost and revenue synergies. I am very impressed with how HL Display has been able to execute on its inorganic growth ambition throughout the year.” says Joakim Twetman, Head of Business Area Industry. “For Ratos, add-on acquisitions is one of the key initiatives to meet our financial targets.”

“Since the start of our partnership in 1989, Display Italia has built a very strong market presence in Italy, creating a better shopping experiences together with retailers and brands. Their knowledge of the Italian grocery landscape and passion for retail has made them an essential partner for HL Display and I am looking forward to further our presence in Italy,” says Björn Borgman, CEO of HL Display.

The acquisition was completed on 1 September 2021.

For further information, please contact:
Josefine Uppling, VP Head of Communication & Sustainability, Ratos
+46 76 114 54 21

Joakim Twetman, Head of Business Area Industry, Ratos
+46 70 339 16 66

Björn Borgman, CEO, HL Display
+46 72 264 17 90


About HL:
HL is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 295,000 stores, helping customers to grow sales, inspire shoppers, drive automation and reduce waste.
The HL Display Group has its headquarter in Stockholm, Sweden and sales companies covering 26 markets as well as distributor partners covering the remaining markets globally. The company has 1,000 employees and net sales of SEK 1,610M.

About Ratos:

Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.