tesa SE acquires FormFormForm
| 22 May, 2018
The London-based company FormFormForm Ltd. will be a fully owned subsidiary of tesa SE.
"Sugru®'s innovative kneadable glue expands our range of smart mounting solutions with a highly versatile product that appeals primarily to young target groups," says Dr Alexander Bochert, Executive Vice President, Consumer & Craftsmen at tesa SE. "Furthermore, the company's expertise in online commerce will give us important momentum in the implementation of our digital strategy."
FormFormForm Ltd. holds all rights to the eponymous, internationally patented mounting solution with the brand name Sugru®. It is an easy-to-use and versatile, kneadable and malleable special adhesive based on silicone.
In 2017, FormFormForm Ltd. achieved sales of 5.6 million Euros with around 60 employees. More than 50 percent of its sales were realized online. Furthermore, Sugru® sells its products in retail outlets in Europe, USA, and Canada.
"Behind Sugru®, there is an inventive product and the idea of inspiring ever more people to engage in creating, fixing and repairing," says Sugru® inventor and CEO of the FormFormForm Ltd., Jane Ni Dhulchaointigh. "To achieve this goal, over the past years we’ve created an international business with a strong and highly-motivated team. Under the umbrella of tesa SE, with its strong brand and global infrastructures, we now have the chance to accelerate our development and to put it on an even broader foundation."