Kinnarps plans large acquisition in Germany
Kinnarps, one of Europe’s leading manufacture and supplier of office interior solutions, has recently signed a Letter of Intent with the German office furniture company Samas with the intention to acquire a larger part of Samas operations in Germany. Through this acquisition, Kinnarps should be one of the leading suppliers in the German market; Europe’s largest for office furniture.
Samas, previously one of the largest office furniture groups in Europe with head office in Holland, has in the wake of the financial crisis, sold off their operations in Holland, France and Germany. Kinnarps are now interested in the German part of Samas.
“Through this deal, we should have the possibility to establish ourselves in a big way in the German market. With local production and a locally adapted product assortment for the German market in combination with a strong distribution network, we have the intention to become one of the leading players in this market. It would also be a good platform for our further expansion in Europe, where we already today has a strong position.” says Mr Henry Jarlsson, Kinnarps CEO.
Kinnarps, which is a fully owned family company, was formed in 1942 and has over the years developed into a leading group within office furnishings. In addition to head office and production units in Sweden, Kinnarps has an international network of own sales companies and agents in some 40 countries. They are today market leaders in the Scandinavian markets and the ambition is to become an even stronger player also in other European markets.
Samas Germany, which Kinnarps has the intention to acquire, has today three production units in Germany plus a distribution network of 350 dealers plus a number of own sales offices. The total turnover is approx 1 billion SEK and number of employees approx 800 people.
The formal acquisition of Samas Germany expected to be finished in the beginning of 2010.
For more information please contact:
Henry Jarlsson, CEO and president of Kinnarps
Phone: +46 515 38004 Mail: firstname.lastname@example.org
Ida Gustafsson, Press Officer Kinnarps AB
Phone: +46 515 38389 Mail: email@example.com
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Kinnarps provides interior solutions for offices and other public spaces. The whole supply chain from rawstuff to finished products is handled with high quality and low environmental impact. The corporation was founded in 1942 by Jarl and Evy Andersson and is still family owned. Kinnarps is the second largest supplier in Europe and has distribution in about 40 countries. Besides the Kinnarps solutions the corporation markets products from the subsidiaries Skandiform, Materia and NC Nordic Care. Kinnarps has a turnaround of 350 MEURO and around 2 000 employees.