The deal surrounding the pending sale of Poggenpohl Möbelwerke, which has been insolvent since April, is as good as concluded: The British Lux Group Holdings Ltd. will take over the Herford-based company in partnership with the German Wolf family of entrepreneurs. The group, whose portfolio already includes luxury kitchen brands such as Smallbone, Mark Wilkinson and Brookmans, will acquire Poggenpohl (“the oldest and best-known kitchen brand in the world”) as part of a transferring restructuring. The asset purchase includes the plant in Herford as well as the international subsidiaries. The Poggenpohl creditors’ committee has approved the acquisition. The final contract is to be signed by the end of this month. The parties have agreed not to disclose the purchase price.

The provisional insolvency administrator Manuel Sack from the law firm Brinkmann & Partner is satisfied: “With The Lux Group, we have gained a strategic investor for Poggenpohl and thus secured the Herford location. We are convinced that The Lux Group will further enhance the global appeal of this traditional brand. Negotiations on only a moderate personnel adjustment will be conducted with the works council in the coming days. The international investor process was conducted with great commitment and professionalism by PwC”.

Poggenpohl Managing Director Gernot Mang, who will continue to lead the team, explains: “Our future plans include further developing the luxury kitchen segment, expanding the categories and providing a ‘best-of-class’ luxury experience. We expect our high-quality dealer network to play a key role in the renewal of the premium Poggenpohl brand. Together with the joint venture team, we will reinvent the kitchen industry.

The Wolf family of entrepreneurs will provide support as a financial investor and also act as the German partner of the Lux Group. RIB Software SE and Microsoft will be the strategic technology partners to deliver the most advanced disruptive cloud-based platform technology. The group is ready to digitally transform the $100 billion global kitchen industry, just as Tesla did in the automotive industry. These are the ambitious plans.

After all, the Lux Group wants to invest more than 50 million euros to revive the internationally renowned traditional German brand Poggenpohl, it was recently announced. The listed company RIB Software SE, with its headquarters in Stuttgart and international branches, has worldwide contacts in the construction industry and counts large construction companies among its customers.