Legrand: CEO says 'a lot of targets'

(CercleFinance.com) - In an interview with Les Echos, Legrand's CEO, Benoît Coquart, details a number of topics, including acquisitions.


The boss of the electrical systems specialist first confirmed the group's financial forecasts for 2019, as announced on 14 February, including organic growth of up to 4%, after 4.9% in 2018.

Regarding external growth, and after the announcement of the acquisition, early this year, of the US group, Universal Electric Corporation, he said that there are many targets and that the group is still in talks concerning potential deals, he said.

Mr. Coquart also put the threat from the American e-commerce giant Amazon into context, believing that electricians prefer to buy from specialist retailers like Rexel and Sonepar. However, he made no comments on the ongoing investigation by the French courts concerning Legrand, Schneider Electric, Sonepar and Rexel, which, amongst other things, are suspected of unlawful collusion.


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