GERMANY - The German high end kitchen furnishings manufacturer Siematic has been acquired by Chinese home appliance supplier Nison Group.

Nison will take a majority stake in Siematic with shareholders Ulrich Siekmann and Kathrin André remaining as minority shareholders. The closing date of the transaction is still subject to approval by the relevant authorities.

Siematic said the decision was made in light of the brand’s aim to expand its sales network in the Asian market. It claimed that there was currently a challenging environment in the kitchen industry and that the Asian market offered “huge” growth potential. “Siematic is very well positioned as a premium brand, especially in the core markets of Europe and the United States,” said Siekmann, chief executive of Siematic. “Now we want to want to embark on the next step in our development together with the Nison Group to grow faster in the key market of China. We are delighted to have Nison Group on board, a partner and expert with a long-term orientation who will support us in the course we have adopted and our brand strategy.”