Nobia and De MandemakersGroep form 50/50 joint venture for kitchen retail in Germany and acquire chain of 38 kitchen specialist stores
Nobia AB of Sweden and De MandemakersGroep Holding BV of the Netherlands have formed a joint venture for the purpose of developing a leading position within the kitchen retail market in Germany. The new company, Culinoma, aims to grow both organically and through acquisitions. Today, Culinoma has acquired all shares in Plana Küchenland Lizenz & Marketing GmbH.
Plana Küchenland Lizenz & Marketing GmbH owns the Plana Küchenland franchise concept with 38 stores, primarily located in southern Germany, with store sales of approximately EUR 70 million. The product offering consists of fitted kitchens, including all accessories and services. Plana's business model is focused on the franchise business and the provision of services and support functions to its franchisees. For more information on Plana visit www.plana.de.
Plana Küchenland represents Culinoma's first entry into the German kitchen retail market.
"We are committed to developing retail channels for kitchens in all of the European markets where we do business. We look forward to developing Culinoma together with De MandemakersGroep and are delighted about the acquisition of Plana Küchenland, which represents a promising platform for our further expansion in Germany," comments Fredrik Cappelen, President and CEO of Nobia.
"De MandemakersGroep has been very successful in building strong kitchen, sanitary and furniture retail concepts in the Dutch market. The German market is in an interesting development phase and we are excited about jointly developing Culinoma with Nobia," says Ben Mandemakers, President and CEO of De MandemakersGroep.
The Plana Küchenland transaction is conditional on approval by competition authorities.
8 February 2007
Nobia AB De MandemakersGroep
Nobia AB, +46 8 440 16 00:
Fredrik Cappelen, President and CEO
Ingrid Yllmark, Director of Communications & IR
De MandemakersGroep, +31 416 56 9 350:
Ben Mandemakers, President and CEO
Jan Stuivenberg, Vice President and CFO
Nobia AB of Sweden is Europe's leading kitchen company. The Group works with strong brands in many European countries. Sales are generated mainly through specialised kitchen studios, both wholly owned and franchises. Nobia is leading the consolidation of the European kitchen industry and creates profitable growth by enhancing efficiency and making acquisitions. The Group has about 8,000 employees and net sales of approximately Euro 1,8 billion. Nobia is listed on the Stockholm Stock Exchange, Large Cap, Consumer Discretionary. For more information, visit www.nobia.se.
De MandemakersGroep of the Netherlands is a leading retail company, in the Dutch kitchen market, privately owned by Ben Mandemakers. The Group has a presence in Belgium, in addition start-up activities in the Czech Republic. Alongside kitchen retail, the Group also holds a strong and growing position in both the Dutch bathroom and furniture marketin which the Group recently bought the entire Piet Klerkx group from the Euronext listed company Macintosh Retail. With its 4,500 employees, approximately 200 kitchen and bathroom stores, the Group seeks to expand its activities within Europe. The total sales of Ben Mandemakers' companies is approximately Euro 1 billion. For more information, visit www.mandemakers.nl.
Nobia develops and sells kitchens through some twenty strong brands in Europe, including Magnet in the UK; HTH, Norema, Sigdal, Invita and Marbodal in Scandinavia; Petra and A la Carte in Finland; ewe, FM and Intuo in Austria, as well as Poggenpohl globally. Nobia generates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 6,400 employees and net sales of about SEK 12 billion in 2014. The Nobia share is listed on the NASDAQ Stockholm under the ticker NOBI. Website: www.nobia.com.