Nobia seeks minority partner for Poggenpohl
Nobia is initiating a process to find a partner in global luxury products that can contribute to the development of German kitchen company Poggenpohl.
Nobia is considering to enter into a strategic partnership for the development, production and sale of kitchens from the international luxury brand Poggenpohl, and to offer a potential partner the opportunity to acquire a minority share in Poggenpohl.
“Poggenpohl is a fantastic kitchen brand featuring world-class design and manufacturing quality. The company generates sales of approximately SEK 1 billion, with a positive sales and profitability trend. We are now exploring the possibility of entering into a strategic partnership to accelerate the growth of Poggenpohl,” says Morten Falkenberg, President and CEO of Nobia.
For further information:
Mikael Norman, CFO
Tel: +46 (0)8 440 16 09, +46 (0)705 94 57 29
Lena Schattauer, Head of Communication and Investor Relations
Tel: +46 (0)8 440 16 07, +46 (0)705 94 51 00
Nobia develops and sells kitchen solutions 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, Intuo and FM in Austria, as well as Poggenpohl globally. Nobia generates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 6,500 employees and had net sales of about SEK 13 billion in 2015. The share is listed on Nasdaq Stockholm under the ticker NOBI. Website: www.nobia.com