Franke is new Duravit shareholder
The Swiss Franke Group has acquired a stake of 25 percent in Duravit AG, the German manufacturer of designer bathrooms and wellbeing systems with headquarters in Hornberg.
Both companies plan to mutually develop innovative product collections for the bathroom and kitchen area, under their respective brands. They intend to set new lifestyle trends to improve the quality of life in the bathroom and the kitchen. Both companies have an international focus, are strong brands with great innovative capacity focusing on outstanding design, high quality and intelligent functionality.
This participation lays the foundation for establishing a strategic partnership in the bathroom and kitchen area. The project business also holds very good prospects for additional growth opportunities. The array of common strengths enables the partners to be even more successful in setting lifestyle trends for a better quality of life in bathrooms and kitchens. This serves as the basis for further expansion and strengthening their respective international market position.
The previous minority shareholder of Duravit, Roca Corporación Empresarial SA, sold its stake on 31 December 2015, which was a prerequisite for the investment of Franke. Subject to approval by the antitrust agencies, Franke acquires the previously held shares.
The Supervisory Board Chairman of Duravit, Gregor Greinert, summarized the partnership of more than 20 years: “We thank Roca for the excellent, always fair and constructive cooperation over the last two decades. We positively look to the future, which we intend to shape with Franke.”
Duravit CEO Dr. Frank Richter commented: “We see a lot of advantages on both sides. Together, we can realize additional national and international growth potentials in the bathroom and kitchen sector, both in the showroom as well as in the project related business.”
Alexander Zschokke, CEO of Franke Group, said: “Partnering with Duravit is an important milestone in the strategic development of the Franke Group. Both companies have excellent expertise, more than 100 years of experience and a high level of design competence. Not only is Duravit a strong development partner for Franke, the corporate cultures match too – entrepreneurship is top priority for both companies. Together we will set new standards in the bathroom and kitchen sector and experience a major upswing in growth.”
