TRACC LEGAL advises ADCURAM on majority takeover of luxury kitchen manufacturer Poggenpohl

The Munich industrial holding company ADCURAM Group AG is acquiring 98.57 per cent of the shares in Herford-based Poggenpohl Möbelwerke GmbH from the Swedish Nobia AB. The respective sale and purchase agreement was signed on 19 December 2016, although the transaction is still subject to official approval.

Poggenpohl is a traditional and world-leading luxury kitchen brand. The workforce of around 500 achieves sales of some €110 million. The origins of the manufacturer date back to 1892.

Poggenpohl is to embark on a new growth phase with the aid of ADCURAM. This will be delivered through investment in brand position and the expansion of the product portfolio.

Attorneys Dr. Thomas Lotz and Dr. Thorsten Steinhaus of TRACC LEGAL in Munich advised ADCURAM in the transaction (mainly due diligence and IP). For the negotiation of the sale and purchase agreement, which is subject to Swedish law, ADCURAM called on the services of Swedish law firm WÅHLIN. In-house the transaction was led by attorney Christian Böcker, supported by Johannes Schafhirt on tax matters.  Attorney Corinna Neunzig from Düsseldorf law firm Hermanns Wagner Brück has been instructed to conduct the cartel proceedings. The seller was advised by Swedish law firm CEDERQUIST.