Arbonia acquires Portuguese market leader for doors Cicomol SA and German metal door frame manufacturer Rüthener Zargenbau GmbH (RZB)

Arbon, 16 October 2025 – Arbonia is further expanding its leading position in the European market with the acquisition of Portuguese manufacturer Cicomol SA. The company has a particularly strong market position in the premium CPL interior doors and door frames segment, as well as in the area of designer and special doors for specialist retailers and project business.
Arbonia is also increasing its vertical integration with the 100% acquisition of German manufacturer Rüthener Zargenbau (RZB), a company specialising in custom metal door frames

Cicomol's Portuguese market complements Arbonia's existing sales markets, with high growth prospects in both new construction and renovation. While Arbonia occupies leading market positions in the DACH markets, Eastern Europe and, following the acquisition of Dimoldura in 2024, also in Spain and France, Cicomol is the market leader in Portugal, particularly in the area of premium design and special doors and CPL interior doors and frames. In addition, the acquisition of Cicomol will strengthen Arbonia's position in the specialist trade in Portugal. Arbonia also expects to achieve sales synergies in Spain, Portugal and France by expanding Dimoldura's strong presence with white lacquer doors and, in the DIY sector, with CPL doors and frames from Cicomol. The modern and automated production plant is located in Ourém, Portugal.

The second acquisition, the German company Rüthener Zargenbau (RZB), based in Rüthen (Germany), specialises in custom metal door frames in Germany, which are used in commercial properties, particularly hospitals, schools, dormitories, etc. In the past, Arbonia purchased most of its metal frames externally. 
Together, the two companies generated sales of around EUR 20 million in 2024 and their EBITDA margin is higher than that of Arbonia. The two acquisitions, including their real estate, will be financed by the existing credit line. The transaction multiple for both companies is below Arbonia's valuation multiple. The acquisitions are therefore both margin-enhancing and value-adding.

The signing and closing of Cicomol took place on 15 October 2025, while the signing of RZB took place on 23 September 2025 and the closing on 9 October 2025. 

Arbonia is taking over all activities of Cicomol and RZB, including the approximately 130 employees of Cicomol and the nearly 40 employees of RZB, so that long-standing customer relationships with existing contacts and ongoing projects can be continued smoothly. The management teams of both companies will also remain in their positions.

Contact
Fabienne Zürcher
Head Corporate Communications & Investor Relations
T +41 71 447 45 54
fabienne.zuercher@arbonia.com