Nobia and DMG acquire German kitchen company Marquardt
Through Culinoma GmbH, Nobia AB in Sweden and De MandemakersGroep Holding BV in the Netherlands have today acquired the majority shareholding in the Marquardt Group in Germany. The Marquardt Group is leading within granite kitchens in Germany with three factories and 26 stores. This will make Culinoma the leader in granite kitchens, as well as the largest streamlined kitchen store group in Germany. The seller is Michael Marquardt, founder and sole owner of the company.
Culinoma was established in February this year, with the objective of developing kitchen stores in Germany through organic growth and acquisitions. With Marquardt's 26 stores and Plana Küchenland's 39 franchise stores, Culinoma now has 65 kitchen stores, with kitchen retail sales of approximately EUR 150 million. This means that it has the leading position in the kitchen retail sector in Germany.
Fredrik Cappelen, CEO of Nobia and Ben Mandemarkers, CEO of DMG, jointly comment on the acquisition:
"Granite is an increasingly prevalent material in kitchens. We strongly believe in the Marquardt concept for continued favourable growth. Marquardt's management group and the company's customer-friendly business model are compatible with our plans for the development of the retail operations within the framework of Culinoma. At the same time, we are delighted about Culinoma's rapid expansion this year."
Michael Marquardt:
"Through the sale to Culinoma, my wife and I have ensured that the company is in good hands. I look forward to managing the company for the benefit of customers, employees and the new owners."
Michael Marquardt, who established the term "granite kitchen" in the German market through his business concept, will continue to head the Marquardt Group. The concept is about offering customers kitchens with a striking content of granite components at attractive prices from the factories. The customer chooses the granite either on the Internet or directly from the factories. The Marquardt Group has a store chain comprising 26 stores, which provide customers with guidance.
The company's operations have approximately 600 employees.
The acquisition is organised in two stages. Initially, 80 per cent of the Marquardt Group will be acquired.
The acquisition of the Marquardt Group is conditional upon approval from the appropriate competition authorities.
More information about the Marquardt Group, Culinoma and DMG are enclosed, as well as the website for images.
For further information, please contact
Ingrid Yllmark, Director Communications and IR, Nobia,
Tel: +46 8 440 16 00 or +46 (0)70 65 59 00 or
Fokke Broekhuis, DeMandemakersGroep, Tel: +31 651 50 21 26
Nobia AB, 19 July, 2007
As the leading kitchen company in Europe, Nobia is championing the consolidation of the European kitchen industry. Nobia creates profitable growth by enhancing efficiency and making acquisitions. The Nobia Group works with 20 strong brands in many European countries. Sales are mainly generated through specialised kitchen studios, both wholly owned and franchised. The Group has about 8,000 employees and net sales of approximately SEK 16 billion. Nobia is listed on the OMX Nordic Exchange in Stockholm. More information is available at www.nobia.com.
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APPENDIX
19 JULY, 2007 - Nobia and DMG acquire German kitchen company Marquardt
MARQUARDT GROUP AND THE ACQUISITION
Marquardt-Küchen GmbH & Co KG was founded in 1992 by Michael Marquardt. The company specialises in the manufacture of kitchens essentially characterised by components in granite, such as worktops, panels, skirting boards, tables, etc.
Michael Marquardt is a successful entrepreneur with an interesting background.
For more information, visit www.marquardt-kuechen.de
CULINOMA
In February, Nobia and De MandemakersGroep established a 50/50 joint venture for kitchen stores in Germany called Culinoma. The new company commenced its operations by acquiring Plana Küchenland (www.plana.de), a chain that currently has 39 specialised kitchen stores in southern Germany. Culinoma intends to develop kitchen stores in Germany through organic growth and acquisitions. The objective is to have a leading position.
DE MANDEMAKERSGROEP (DMG)
De MandemakersGroep, in the Netherlands, is a leading retail company in the Dutch kitchen market, wholly-owned by Ben Mandemakers. The Group also has operations in Belgium and the Czech Republic. In addition to the kitchen industry, the Group has a strong and growing position in both the bathroom and furniture markets in the Netherlands. The Group has 4,500 employees, approximately 200 stores for kitchens and bathrooms, and strives to expand its activities in Europe. Ben Mandemakers' various companies have sales of approximately EUR 1 billion.
More information is available at: www.mandemakers.nl.
IMAGES
Press photographs are available at: www.marquardt-kuechen.de