Transaction will create funds for expansion and repositioning reducing product overlaps

German kitchen furniture manufacturer Alno has sold its subsidiary Impuls Kuchen to Austrian Steinhoff Furniture Holdings, to reposition the company.

The change in ownership is scheduled to take place at the end of June 2105, subject to antitrust approval.

Alno and the Steinhoff Group will co-operate on a long-term strategy to secure jobs and the current trading position. Steinhoff will supply Impuls kitchens to Alno for the export business, for continuation of supply and availability.

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Alno UK will continue to sell all three of its brands, Alno, Wellmann, Pino, plus Impuls kitchens through its existing businesses.

According to Alno, this agreement will allow “better utilisation” of its remaining plants and economies of scale in purchasing and production.

The funds from the transaction will allow for Alno’s expansion and more defined positioning for Alno, Wellmann and Pino brands, meaning fewer product overlaps.

CEO of Alno Max Muller commented: “This transaction is for both sides a win-win situation. The Steinhoff Group can tackle their own strategic objectives faster, while we move forward in a decisive step with the restructuring of our company.

“This year, we have achieved three major milestones in the realignment of Alno AG: In addition to selling Impuls, we have also established a joint venture in Russia with one of the largest furniture manufacturers in the country and we have recently further increased our capital by partnering with China. All these development will bring significant new business opportunities to us in the near future.”