Legrand (Euronext - FR0010307819 – LR) and Cogelec (Euronext Growth - FR0013335742 - ALLEC) announce, following the execution on July 9, 2025 of a put option agreement along with an exclusivity undertaking, and the completion of the information and consultation process with Cogelec's social and economic committee, the execution on July 31, 2025 of a share purchase agreement between Legrand France, a subsidiary of Legrand, on the one hand, and the managers of the Cogelec group and Raise Investissement, shareholders of Cogelec Développement, on the other hand, for the acquisition of all of the shares of Cogelec Développement, which indirectly holds 5,347,065 Cogelec shares, representing a total of 60.09% of the share capital and 78.39% of the voting rights of Cogelec, based on a price of 29 euros per Cogelec share (ex-dividend 2024).

Cogelec's social and economic committee unanimously issued a favorable opinion on July 16, 2025.

The acquisition of the controlling stake remains subject to customary conditions precedent, provided that the only regulatory condition will be obtaining approval from the French competition authority.

It is recalled that, should the acquisition be completed, Legrand would launch a mandatory simplified tender offer to acquire the remaining shares of Cogelec at a price of 29 euros per Cogelec share (ex-dividend 2024). In the event that the thresholds allowing it are crossed at the end of the tender offer, Legrand would request the implementation of a squeeze-out procedure under the applicable legal and regulatory conditions in order to acquire the Cogelec shares not acquired under the tender offer.

The acquisition of the majority stake and the filing of the tender offer with the French Financial Markets Authority (Autorité des Marchés Financiers) are expected to take place during the last quarter of 2025.

Legrand reports +15% sales growth in first-half 2025, excluding exchange-rate impact and an adjusted operating margin of 21.0% after acquisitions
Organic growth over the half year: +9%, driven by datacenters
Net profit attributable to the Group: 13.2% of sales

2025 full-year targets revised upward
Sales growth of +10% to +12% excluding exchange-rate impact
Adjusted operating margin (after acquisitions): 20.5% to 21.0% of sales

Active deployment of 2030 strategic roadmap
6 acquisitions announced since the beginning of the year
New-product innovation and commercial excellence initiatives
2030 targets reaffirmed

Benoît Coquart, Legrand’s Chief Executive Officer, commented:
“Our first-half 2025 results were excellent, confirming both the relevance of our strategic roadmap and the strength of our teams’ execution.

The period was marked by numerous growth initiatives, both organic — with many new product launches and commercial initiatives — and external, with the acquisition of six recognized specialists in the energy and digital transition markets announced, representing close to €200 million in additional full-year revenue.
Encouraged by these strong performances, we are revising our full-year sales and margin targets upward.

It has now been nearly a year since we unveiled our 2030 ambitions. The trends we’ve observed over the past twelve months — led primarily by datacenters, which account for 24% of our sales in the first half of 2025, and opportunities linked to the energy transition — combined with early results of our strategic roadmap, strengthen our confidence in reaching the upper end of our 2030 revenue target range, around €15 billion, compared with €8.6 billion in 2024”.