First foreign acquisition for Poltrona Frau, which takes over KJ Ryan

The aim is ambitious: to strengthen its presence in the British market - which together with the Italian market covers more than 80% of the luxury car sector - and to create Europe's leading centre specialising in the production of high-end and tailor-made car interiors.

This is the plan that has prompted Poltrona Frau, the historic Italian design brand belonging to the Haworth Lifestyle Group, to acquire a majority stake in KJ Ryan, known for the development and production of luxury car interior components, in its first foreign operation in 112 years of history. The British company will be part of Poltrona Frau's Interiors in Motion division, based in Tolentino, which was founded in the 1980s and is dedicated to the development and production of luxury interiors for the automotive, aviation, rail transport and marine sectors.

The new company will have a turnover of about 120 million euro, three production plants (in Tolentino and Montegranaro in Italy and in Coventry in the UK) and about 600 employees, with important growth prospects. "The luxury car market is in excellent health and our order book is already full for the next two years," explains Dario Rinero, CEO of Haworth Lifestyle, the holding company of the American Haworth group dedicated to the design sector, which includes ten companies - including Poltrona Frau itself, Cappellini, Cassina, Janus et Cie, Luminaire, Ceccotti Collezioni, Karakter, Luxury Living Group, Interni and Zanotta - and has reached a turnover of €760 million in 2023 (+2% on 2022), with Ebitda at €94 million.

"Interiors in Motion already works with the biggest luxury car manufacturers, including Lamborghini, McLaren, Jaguar and Land Rover, but this operation will allow us to guarantee our British customers a more efficient service, with faster delivery times and more sustainable supply chains, and therefore to forge closer relationships with them," adds Rinero. We believe that this Italo-English pole could be an interesting alternative for car manufacturers that produce the interiors of their cars in house, but also for those that rely on serial producers that also handle the top of the range". Following the integration of the two companies, in fact, Poltrona Frau will be able to provide customers in the UK with on-site production, making use of the quality and production efficiency of KJ Ryan, bringing in addition its own expertise in craftsmanship and design and, above all, customisation, an aspect that is particularly appreciated in this field, where 60-70% of customer requests are now for made-to-measure solutions. "I believe that bringing this expertise close to our customers will be a great added value," comments Dario Rinero.

"With the acquisition of KJ Ryan, we significantly strengthen our ability to collaborate with leading car manufacturers in the design, development and supply of premium interiors in one of the world's most important markets for luxury cars," confirms Poltrona Frau Interiors in Motion CEO Ervino Riccobon. Kevin Ryan will remain at the company he founded in 2007 with "an important operational role", explain the group: "Joining forces with Poltrona Frau and Haworth Lifestyle makes me confident that the skills, know-how and credibility I have built up over 40 years in this sector have found the best possible platform to be nurtured and expanded in the future".