After being a subsidiary of large groups managing portfolios of music related brands for many years, Buffet regained its independence with the support of Argos and its management team, redefining a proper organization and a dedicated strategy.
It was a very complex carve-out, where brands, factories, sales teams, buildings, patents and designs, IT systems, customer bases in several places in the world were detached from the former owner and gathered into a new, independent business. The closing took 32 hours to unfold, with transactions rolling across the continents, and ended with a large hedging trade to buffer the massive exposure the group had to the Yen/€ parity.
180 years after its creation, the company obtained the setup and the financial resources it needed to re-develop its product offering leveraging on its world-famous brand, its know-how and on the newly gained control over its worldwide distribution channels.
It took several years to fully integrate all the assets into a coherent group, streamline the supply chain and the distribution channels, build group-wide financial control (accomplished by Geoffroy Soler, now the Managing Director of Selmer) and improve the manufacturing process while preserving the historical knowledge of the brand.
These transformations, along with a selective external growth strategy (Besson, Courtois, Schreiber), enabled Buffet to realise significant growth in sales and headcount, in a context of economic turmoil. The group revenue went from less than €40m in sales in 2005 to €67m in 2011 while headcount doubled.
Under its new ownership Buffet Crampon has continued to grow and now generates more than €100m of sales.