Ferretti Group is set to make two strategic acquisitions to bolster its production line, as revealed by CEO Alberto Galassi during the Cannes Yachting Festival.
The focus is on acquiring suppliers and internalizing production activities, particularly the manufacturing of Wally sailboats, which were previously outside the group's facilities.
This move, approved by the board on August 29, is described as 'execution now' by Galassi, with the closing and announcement expected soon.
The board also approved a second M&A, with multiple targets in sight.
Galassi emphasized the group's strong cash potential and resources, aiming for wise investments.
Historically, Ferretti's growth was hindered not by lack of resources but by unreasonable demands.
The company is also dealing with recent corporate changes, including the resignation of Tan Xuguang, former chairman of both Weichai and Ferretti, due to age limits.
His departure coincided with delays in a buy-back operation due to potential golden power implications.
Galassi downplays concerns, highlighting the smooth transition to new chairman Jiang Kui, who is familiar with the company and its industrial plan.
Weichai, holding 37.5% of Ferretti, remains a key shareholder, with other stakeholders including Valea Foundation, UBS, Iervolino, Piero Ferrari, and the Bombassei family.
Despite rumors of Weichai's exit, Galassi states that any changes would require lengthy negotiations, with no immediate plans for stake alteration.
Regarding golden power, Galassi notes that Weichai, like any non-EU investor, is aware of such regulations in Italy and Europe.