Livingstone’s Consumer sector team advised Hüls AG & Co. KG on the sale of both its living- and bedroom furniture producer Loddenkemper GmbH & Co. KG as well as its mattress and bed manufacturer femira Schlafsysteme GmbH to Wiemann family (Oeseder Möbel-Industrie Mathias Wiemann GmbH & Co. KG). The terms of the transaction are undisclosed.
Loddenkemper, founded in 1889, manufactures upmarket bedroom and living room ranges with lacquered and veneered surfaces. Hüls Group acquired Loddenkemper in 1993. femira was founded over 200 years ago and was acquired by Hüls Group in 2004. Since then it has evolved into a supplier to the upper segment. The transaction was undertaken as part of the Hüls Group’s renewed focus on its hülsta brand.
The idea was to place both businesses in the hands of a new owner able to make optimum use of the operational repositioning, which has been achieved by SMP Struktur Management Partner in Cologne with its partner Felix Schwabedal, and to continue the ongoing growth with the confidence of the furniture retail chains. Livingstone delivered an attractive solution for the company and its employees ahead of the MOW – the local key trade fair for the furniture industry in mid-September.
>Wiemann, founded in 1900 by master carpenter Mathias Wiemann, is a German manufacturer of semi-solid, laminated furniture (including bedroom suites and free-standing items). The family-owned company is now managed by the fourth generation and is one of the market leaders in Germany. The Wiemann family embarked on a strategy to expand and complement its product range and has acquired Loddenkemper and femira as part of this.
“The fact that we are able to announce the takeover of both Loddenkemper and femira by WIEMANN ahead of the MOW is a superb way to start the 2018/19 furniture year and is fantastic news for our retailers, our employees and our customers. I am already very excited about working with the Wiemann family, and with Mr. Kriege as Managing Director,” said Jürgen Merkelbach, Managing Director of Loddenkemper and femira.
“As an established manufacturer of bedroom furniture, this was a very special opportunity for us to buy a producer of premium-priced box furniture and beds/mattresses – a company whose historical roots are as firmly embedded in homegrown German quality as are our own,” commented Markus Wiemann.
“With WIEMANN as a strategic partner, with the expertise of our employees and the highly motivated team at Loddenkemper and femira, we are going to continue to develop the well-known brand of this long-standing company, highly valued by its customers, and position it going forward as a trustworthy, capable partner to the trade and to our customers,”/strong> added Helmut Kriege, Managing Director of Oeseder Möbel-Industrie Mathias Wiemann GmbH & Co. KG.
“We are absolutely sure that WIEMANN is the right buyer for both companies,” said Paul Jähn, CEO of Hüls AG & Co. KG, summarising the deal.
“We are delighted that the shareholders and management of Hüls AG & Co. KG placed their trust in Livingstone to assist them with the strategic positioning of the Hüls Group. The search for a suitable long-term partner with experience of the industry, who appreciates and is able to leverage the brand’s potential was a really exciting process and WIEMANN proved to be the ideal answer. It was a great pleasure for us to be able to advise these established companies on the sale, together with the management and the SMP team, and we would like to thank the company and its shareholders for their excellent teamwork,” said Dr. André Schröer, Livingstone Partner in Düsseldorf.
The seller’s legal adviser was Gleiss Lutz in Munich, who fielded a team headed by Dr. Ralf Morshäuser and Dr. Tobias Falkner. The buyer was assisted by KPMG Legal Düsseldorf, led by Dr. Maximilian Gröning.
This successful transaction for Hülsta comes on top of numerous other transactions in the furniture industry, such as the sale of a majority stake in SieMatic to China’s Nison Group and the sale of premium furniture maker interlübke to SCHRAMM. This transaction is also a further testament to Livingstone’s expertise in the furniture segment (Posseik, interlübke, Dovetail, Burgbad).