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FRANCE - 123Venture acquires JP Gruhier

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123Venture has completed a secondary management buyout of sofa-bed producer JP Gruhier from the founders and previous investors Ciclad and IDI for an undisclosed sum.

JP Gruhier, based in Tonnerre in the Bourgogne region, produces convertible sofa-beds, which it distributes via Ikea, La Redoute, les 3 Suisses or Fly. The company achieves turnover of EUR 34m and employs between 150 and 200 staff. The new owners could target growth through future strategic acquisitions.
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