When Kramp acquired Genfitt in July 2023, we embarked on a joint journey to growth and expansion in Ireland. Job Verhijden, Mergers & Acquisitions Manager at Kramp, and Ronan Egan, Commercial Director of Genfitt, discuss how combining the best of both companies is already resulting in many benefits for our customers, suppliers, business partners and employees.
Genfitt, a wholesaler of agricultural parts in Ireland, was successfully serving a loyal customer base across several channels, but they were keen to create an even better value proposition for all their customers. “The acquisition by Kramp in 2023 significantly increases our product offering – taking our assortment from less than 6,000 items to potentially over half a million,” states Ronan.
“We started introducing the first new products within the first month, and have been gradually adjusting and expanding our assortment ever since. Additionally, customers throughout Ireland will benefit from shorter and more predictable delivery times on the full portfolio thanks to the logistics and digital capabilities of Kramp. They will also gain access to an additional network of suppliers, more technical expertise and added-value services,” Ronan continues.
“Kramp made it clear that this was a long-term co-creation journey”
Ronan Egan
Loyal customer base
“The acquisition of Genfitt marks an important step in further reinforcing the position of Kramp as Europe’s essential partner in parts and accessories for the agricultural industry,” comments Job. “Ireland was a white spot for us, especially since Brexit, so we were on the lookout for a suitable acquisition partner to help us improve our competitive position and grow the business. Genfitt ticked all the right boxes from a strategic perspective: a leading market position with a loyal customer base, a great workforce and a local distribution hub facilitating nationwide deliveries,” he adds.
“We want to retain the valuable and unique aspects of Genfitt”
Job Verhijden
“We already knew of Kramp and felt that there could be a good cultural fit due to various similarities between our two companies, and not least because Genfitt started out as a family business too. But we were a little apprehensive about getting ‘swallowed up’ due to our smaller size,” comments Ronan.
Listening and understanding
“So we were pleasantly surprised to discover that Kramp isn’t a ‘corporate machine’, but a really great bunch of people. We’ve been impressed by how hard everyone worked to listen to us, understand our business and build relationships with us on both a professional and personal level. They made it clear that this was a long-term co-creation journey, and they consistently delivered on their promises. That meant a lot to us, and also resulted in a very positive and interesting learning experience for our employees,” he states.
Job explains Kramp’s approach to the acquisition process: “Rather than turning Genfitt into a Kramp ‘clone’, we want to retain the company’s valuable and unique aspects. That starts with close and open communication, which then forms the basis for the subsequent planning and implementation. In Genfitt’s case, it was about welcoming them into the Kramp community and then exploring how we could optimally support the existing local team to do what they’ve been doing, only even better.”
Dedicated webshop
“The response from our customers has already been very positive, and we’re excited about bringing them even more benefits as we roll out new and better services from now on,” says Ronan. One example of this is the dedicated Kramp webshop that has now been set up for Ireland, according to Job. “This will significantly improve the product choice, speed of delivery and predictability of lead times for existing customers of both Genfitt and Kramp,” he says.
Right assortment and service levels
“We could never have achieved this without Kramp’s team and willingness to invest. As we increasingly move towards full integration with Kramp in 2024, we’re perfectly placed to develop a futureproof local business, with the right assortment and the right service levels for customers anywhere in Ireland,” concludes Ronan.
