Nobia and DMG acquire German kitchen chain Vesta
Through Culinoma, Swedish company Nobia and Dutch company DMG today acquired 75 per cent of the German Vesta Group, a kitchen retail chain located in Germany with ten stores that generated sales of approximately EUR 27 million in 2007. The seller is Thomas Winkler, the founder of Vesta, who will continue to serve as the President of the company.
Vesta is Culinoma's fourth acquisition since the joint-venture company was founded by Nobia AB and De Mandemakers Groep Holding BV at the beginning of 2007. With the acquisition of Vesta, Culinoma is strengthening its market position, which will encompass 95 stores with retail sales corresponding to approximately EUR 220 million.
The acquisition of the Vesta Group is conditional on the approval of the competition authorities.
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For further information, contact:
Fokke Broekhuis, De Mandemakers Groep, tel +31 651 50 21 26
Ingrid Yllmark, Director Communications & IR, Nobia AB
Tel +46 8 440 16 00 or +46 708 65 59 00
Nobia AB
6 May 2008
Nobia is the leading kitchen company in Europe with operations in some ten countries. The Group manufactures and sells complete kitchen solutions through many strong local and international brands, including Magnet in the UK, HTH in the Nordic region, Hygena in France and Poggenpohl internationally. Sales are generated through specialised kitchen studios, other sales channels and direct to corporate customers. Nobia creates profitable and sustainable growth by working according to the company's strategic cornerstones. Nobia has about 8,500 employees and annual net sales of approximately SEK 16 billion. The Nobia share is listed on the OMX Nordic Exchange Stockholm AB under the shortname NOBI, in the Consumer Discretionary sector. Nobia is included in the OMX Stockholm Benchmark Index.