Monaco Yacht Partner acquired by Catalano Shipping Services part of Fratelli Cosulich Group
“Catalano Shipping Services” announced today that they have acquired “Monaco Yacht Partner”, a leading Ship Chandler – Yacht supplies company based in Monaco.
The acquisition will allow “Catalano Shipping Services” to expand their operations in the yachting market and offer a wider range of services to their clients. “Monaco Yacht Partner” brings a strong reputation and extensive network of industry connections to the table, making it a valuable addition to the “Catalano Shipping Services” portfolio of companies. The Group is now able to offer a global coverage operating with its offices in France, Monaco, Italy, New Zealand, Indonesia and relying on an extensive network of partner in other countries.
“Monaco Yacht Partner” was founded in 2010 and has since become a leading player in the field of Ship Chandler in Monaco. The company has a team of experienced professionals able to efficiently advise their customers and to deliver a very large catalogue of spare parts, supplies and various equipment in record time. The prime position of the retail shop, at the very heart of Monaco’s main port is highly appreciated by Yacht’s crew, offering them a maximum convenience. Of course, the team also works on full listing orders and can deliver rapidly all over the French & Italian Rivieras with the target to become a major player in marine and boat supplies.
The acquisition has just been officially recorded, and the combination of the two companies’ experience, assets and human resources promises to grant their customers the access to an extended array of goods and services, with an increased budget benefit.
Tomaso Moreno, CEO of Yachting department at “Fratelli Cosulich” Group shares his view: “We are pleased to have concluded this operation in “Catalano Shipping Services”, which brings a new asset and domain to our group “AGents” and its integrated suppliers. “Fratelli Cosulich” had already a foot in this business through “Molo Vecchio Marine Supply” located in Genoa.
This strategic move will strengthen the presence of our global Group in the industry and bring new opportunities for growth and success. The acquisition of “Monaco Yacht Partner” marks the beginning of a new development: in 2023, we will work on merging the two Ship Chandlers in order to create a single entity with a turnover of approximately 4-4.5 million euros and 10-12 dedicated employees, covering all of Liguria and the southern part of France between Menton and Saint Tropez. Also, as a supplier of spare parts and consumables for yachts, we will become the 3rd/4th largest group in Italy in this segment.
While the top players in this field are of great importance, we want to grow as local identities by focusing on this niche market that we believe is currently in need of a better assistance. In addition, “Molo Vecchio Marine Supply”, has a warehouse in Imperia that will be immediately used to create synergy between the two structures and envision a growth between 2023-2024 based on the extension and mutualization of their suppliers and catalogues, a possible additional store in France under a common brand, and a logistics-focused development. This could be a business of great interest to us in the near future.”
