Announced · France · Construction and engineering
VKR Holding to acquire StellaGroup.
VKR Holding, the Danish owner of the VELUX and DOVISTA groups based in Hørsholm, announced on 6 November 2026 an agreement to acquire StellaGroup, a maker of roller shutters, solar shading, awnings, garage doors and gates headquartered in Annecy, France, from PAI Partners, ICG and management. StellaGroup employs 2,300 people, had 2025 revenue of EUR 556 million and runs 17 sites in five countries; completion is subject to consultation of employee representative bodies and regulatory approvals. It was announced on 6 November 2026 and had not been signed by 6 November 2026.
SigningDay 100
Announced 6 November 2026
- Buyer
- VKR Holding A/S ·Hørsholm, Denmark
- Target
- StellaGroup ·Annecy, France
- Type
- Acquisition
- Announced
- 6 November 2026
- Value
- Not disclosed
- People
- 2,300
- Last checked
- 6 November 2026
The people side in France
- A French target with 50 or more employees consults its works council (CSE) before any binding decision. Labour Code (Code du travail), articles L2312-8 and L2312-14
- In a sale of the business, a merger or another change in the employer's legal situation, all employment contracts in force continue with the new employer. Labour Code (Code du travail), article L1224-1
- Where a deal meets the French merger control thresholds, the parties wait for the final decision of the Autorité de la concurrence before completing it. Autorité de la concurrence: Contrôle des concentrations
- In sensitive activities, prior authorisation is needed for a foreign buyer taking control or a business line, or a non-EU/EEA buyer crossing 25% of votes (10% if listed). Direction générale du Trésor: Les conditions d'une opération soumise à autorisation préalable
- A foreign company without an establishment in France that hires staff there declares them and pays their social contributions in France, through the Urssaf Foreign Companies service. Urssaf: Foreign companies service
- Where the deal needs EU merger clearance, the buyer may not implement it before clearance. EU Merger Regulation (Council Regulation (EC) No 139/2004), article 7
Sources
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