The well-known German kitchen brand Poggenpohl Möbelwerke (Poggenpohl, hereinafter referred to as Poggenpohl) announced on Monday that it has been acquired by Jomoo Germany, a German subsidiary of China's Jomoo Group.

Poggenpohl was founded in 1892 by Friedemir Poggenpohl. It was originally a small furniture workshop with a showroom. It mainly produces all kinds of high-end kitchenware. Its current business covers more than 70 countries around the world. Poggenpohl has always been an innovator and pioneer in the kitchenware industry. They introduced the unit kitchen in 1950, which later became the new standard in the kitchenware industry. The company is currently headquartered in North Rhine-Westphalia, Germany.

Earlier this month, Poggenpohl announced that it would be jointly acquired by the UK's Lux Group Holdings Ltd and the German Wolf Family Office (Wolf Family Office). But it said in a statement on Monday that the acquisition was ultimately unsuccessful and gave Jomoo Germany the opportunity to reach an agreement with Poggenpohl at the last minute.

The contract will take effect in the next few weeks, and some prerequisites still need to be met before then. The two parties are unwilling to disclose the purchase price.

Jomoo will take over Poggenpohl's manufacturing center in Herford and most of its employees.

Manuel Sack, a partner of the German law firm Brinkmann & partner, served as Poggenpohl's interim bankruptcy administrator. When talking about finding investors, he said: “During the acquisition process, we have conducted intensive negotiations with Jomoo, so we quickly found investors for this kitchen pioneer. For 125 years, Poggenpohl has always represented the highest technology. Standard kitchen. The employees have mastered the necessary expertise and are ready to further develop high-end kitchens to meet the needs of the 21st century."

Gernot Mang, CEO of Poggenpohl, will continue to lead the team. He said that the combination of expertise of German high-end kitchen experts and Asian bathroom experts may help Poggenpohl expand into new business areas. He said: "We will work with Jomoo to expand international business. There may be interesting synergies between the kitchen and the bathroom, because in the future we will be able to provide project developers with a one-stop design for both rooms. Therefore, Poggenpohl will Go beyond the kitchen field and expand the business to the entire indoor living space. In the future, we will further develop the luxury kitchen field and increase our output."

Lin Xiaowei, General Manager of Jomoo Germany, said: “As a key part of Jomoo's long-term sustainable market and product strategy, we attach great importance to covering the needs of high-end and ultra-high-end markets. We have carefully considered for a period of time and hope to cooperate with a high-quality, Opportunities for cooperation or acquisitions with well-known brands with design reputations. We hope that this brand has a long history, world-renowned, and respected for its exquisite craftsmanship and excellent reputation. Poggenpohl meets these standards and satisfies Jomoo's expanded kitchen Market strategy for appliances and cabinet products."

About Jomoo

Jomoo is a manufacturer of sanitary ware, ceramics, and kitchen products. It was founded in 1990 and is headquartered in Xiamen, Fujian. It is a wholly-owned enterprise. The group has 14,500 employees, nearly 4,000 stores or showrooms, and 5,000 distributors, with annual sales of 1.7 billion euros. Jomoo has several offices in overseas markets, including Munich, Germany.

Jomoo is the exclusive supplier of sanitary and kitchenware products for the National Olympic Sports Center of China and Beijing Daxing International Airport, as well as the main sponsor of the 2022 Winter Olympics.