SCHRAMM and interlübke form a national champion for branded premium furniture made in Germany

  • Feb 2018
  • Consumer
  • M&A: Sell-Side
  • Germany
Interlübke has been acquired by SCHRAMM

Livingstone has advised Interlübke Holding GmbH on the sale of the manufacturer of branded premium cabinet furniture and corresponding IP rights for the “interlübke” brand to SCHRAMM Holding and MB Mittelständische Beteiligungsgesellschaft mbH. The acquirers were advised by currentis GmbH (Osnabrück) in this transaction.

The parties have decided not to disclose any details on the terms of the transaction. Interlübke was founded in 1937 and is the leading manufacturer of luxury cabinet furniture in the premium market segment. The operative business of Interlübke has been concentrated within the legal entity Lübke GmbH since the acquisition by a group of private investors in 2014, while all brand and IP rights belong to Interlübke Holding GmbH.

Livingstone previously advised Mr. Leo Lübke, successor of company founders Leo and Hans Lübke, on the sale back in 2014. Based on deep personal dedication, comprehensive growth initiatives and countless hours of work, the group of private investors successfully realized the company’s turnaround in recent years, not only placing Interlübke back on a growth track but also celebrating outstanding success and winning multiple design awards for new creations like “jorel” and “lilu” on both a national and international level. According to a popular study on German luxury brands that is regularly conducted by Biesalski & Company in cooperation with WirtschaftsWoche, “interlübke” is ranked number 27 on the list of the most well-known German luxury brands—this corresponds to a top 10 spot when it comes to German furniture brands.

Based on this success story, the group of private investors decided it was time to find a partner for the company and its employees who would continue down the chosen growth path and who enjoys the confidence of the trading partners. As the shareholders wanted to inform the general public on a long-term solution as soon as possible following the very successful international furniture fair (imm) in Cologne, which took place at the end of January, Livingstone had to work within a very strict time frame to realise this solution.

Family-owned SCHRAMM Werkstätten, located in the Palatinate Winnweiler, is a manufacturer of premium bedroom furniture, such as beds, mattresses, etc. Like interlübke, SCHRAMM also holds a top 10 spot on the list of most well-known German luxury brands. For three generations SCHRAMM has been representing comprehensive and increasingly sophisticated sleeping solutions. It has been a family tradition since 1923 to realize the best sleeping experience possible—not chasing short-term advantages but long-term consistency, particularly in quality—and the fourth generation is already waiting in the wings.

In this acquisition the entrepreneurial Schramm family has decided to join forces with the northern German investor MB Mittelständische Beteiligungsgesellschaft mbH from Osnabrück who is specialised in long-term succession solutions. Together SCHRAMM and MB are acquiring both the production facility in Rheda-Wiedenbrück as well as the “interlübke” brand from Interlübke Holding.

Patrik Bernstein, CEO of Lübke GmbH, commented: “The acquisition of Interlübke by SCHRAMM and MB follows on a very successful imm cologne and rounds off an outstanding start to 2018. This acquisition is fantastic news not only for our trading partners out in the field, but also for our employees as well as the end consumer. I am greatly looking forward to cooperating with the Schramm family and Dr. Friggemann, and I am sure we will be able to deliver fresh jointly developed ideas over the next months.”

For us, as a manufacturer of luxury sleeping solutions, it is an outstanding opportunity to be able to acquire a luxury cabinet manufacturer—ergo not only a product category that perfectly complements ours, but also a company that shares in its DNA our passion for luxury quality made in Germany. The combination of Schramm as a reliable strategic partner, the expertise of MB and the motivation of the Interlübke-team will allow us to further develop the most well-known luxury brand, while simultaneously building on its long-term heritage in the high-end luxury furniture sector. This will position Interlübke as a trustworthy, reliable and strong partner for trade partners as well as end consumers”, commented Axel Schramm, CEO of SCHRAMM Holding GmbH and President of the German Association of Furniture Producers (Verband der Deutschen Möbelindustrie (VDM)).

Frank Hock, Managing Director of Interlübke Holding GmbH, added: “The shareholders are amazed by the performance and would like to thank Dr. Schröer and the Livingstone team for all their effort, deep market knowledge and deal-making capabilities, which made this success possible within a short time-frame. We would like to thank all employees at the production facility in Rheda-Wiedenbrück for their dedication and hard work, and are glad that we were able to realize a long-term solution for them which will continue our joint path. We are sure that the combination of the SCHRAMM and Interlübke brands will have a tremendous effect on both companies and we wish the new owner best of luck for the future.”

“We are pleased that we were invited to advise on the next important steps that will shape the future of Interlübke following our successful involvement in the original succession solution for the Lübke family in 2014. We not only had to look for a potential investor with a strategic long-term interest in the company, but also for one capable of combining market knowledge with the possibilities of building on Interlübke’s outstanding potential and reputation in the branded luxury segment. We are confident that the combination of Interlübke with the SCHRAMM and MB teams supports an outstanding future for all parties involved. It was a privilege to be able to advise on the sale of Interlübke, a company with this outstanding heritage, for a second time and we would like to thank the shareholders as well as all employees for their trust and dedicated teamwork throughout the process”, commented Dr. André Schröer, Partner at Livingstone.

The second successful sale of Interlübke in the last four years adds to numerous successful transactions that Livingstone has completed within the luxury branded goods segment, including the majority sale of SieMatic to the Chinese Nison Group and the sale of the branded eyewear manufacturer ic! berlin to Premium Equity Partners in Q4 2017. In addition, these transactions also underline Livingstone’s know-how in the furniture market segment (e.g. Posseik, SieMatic, interlübke, Dovetail, Burgbad, etc.).

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