Holdfast NZ announces sale to Soudal

Holdfast NZ announces sale to Soudal

Holdfast NZ, a business that was born in a Hamilton garage more than 33 years ago has announced their sale to long term supplier Soudal of Belgium, Europe’s largest independent manufacturer of sealants, adhesives and foams.

The Holdfast NZ board said this marks the latest step in the great Holdfast story.

“From day one, founders Brett and Jenny Henderson drove the business with passion, enthusiasm and eye for opportunity that was second to none. This sale recognises all they have achieved while setting the business up for ongoing growth and success.”

Indeed, the early days of Holdfast are somewhat legendary. Tales are often recounted of Brett and Jenny pouring PVA by hand, with the help of friends and family, who were rewarded with free ice cream for their efforts.

From such humble origins, the Hendersons built a business led by its hero Gorilla brand, which has truly left a mark in the sheds, garages and utes of Kiwi builders and DIYers alike. Along the way Brett was recognised as a category winner in the prestigious Ernst and Young Entrepreneur of the Year Awards.

This successful long-term relationship with Soudal formed the basis of the sale to Soudal.

“This change is the latest exciting step in the ambitious global expansion plan for Soudal and promises to deliver huge benefits to our Holdfast customers,” said CEO of Holdfast NZ Simon Rickman.

“With Soudal’s broad and rapidly growing product portfolio, we can serve the trade, industrial and DIY markets even better with our range of Gorilla branded products.”

Soudal is equally excited by the acquisition. Managing director Dirk Coorevits said, “the acquisition of Holdfast, in a busy New Zealand marketplace, shows our commitment to growing our position in the region and globally”.

“After so many years working together with the Holdfast team, we know what a great fit Holdfast represents for our wider Soudal business,” said Coorevits.

The European giant will turnover more than 850 million euro in 2018 with a workforce of close to 3000 employees on five continents.

Brett and Jenny’s legacy will not be lost. Holdfast will retain its Hamilton base led by the same management team with its Gorilla brand continuing to sit proudly on shelves the length and breadth of the country.