Wåhlin has advised ADCURAM Group AG in the acquisition of the controlling stake in luxury kitchen manufacturer Poggenpohl in Germany
Wåhlin has advised ADCURAM Group AGin connection with the acquisition of 98,57% of Poggenpohl Möbelwerke GmbH, based in Herford, Germany. The transaction with the previous majority shareholder, Swedish listed Nobia AB, was signed on 19 December 2016. The transaction is still subject to customary regulatory approval in Germany and in Austria.
Poggenpohl is one of the globally leading brands for luxury kitchens, and manufacturer of kitchens in extraordinary design and traditional quality, including the famous Porsche-Design kitchen. The products are sold through the company’s own channels as well as independent retail channels. Poggenpohl employs about 500 staff and generates annual revenues of ca. EUR 110 million.
ADCURAM is a privately owned industrial group. ADCURAM acquires companies with potential and develops them further – actively and sustainably. The financially strong industrial holding company has a total of EUR 300 million available for new acquisitions to further the Group’s future growth. With its own team of 50 experts, ADCURAM enhances its subsidiaries from a strategic and operational perspective. Together with five subsidiaries and around 2,000 staff, the Group generates global revenues of just under EUR 400 million.
Wåhlin’s team consists of M&A partner Jonas Holmstedt and associate Nicolina Erickson.