GERMANY - Poggenpohl Möbelwerke, based in North Rhine-Westfalia, will be acquired by the British company Lux Group Holdings Ltd in a partnership with a German family office -The Wolf Family.

Lux Group whose portfolio brands include Smallbone, Mark Wilkinson and Brookmans, will acquire the oldest and best-known kitchen brand in the world as part of a transferable restructuring. The asset purchase will include the main manufacturing center in Herford as well as the international subsidiaries.

The Poggenpohl creditors committee has approved the acquisition. It is expected that the final contract will be signed by the end of this month. All of the parties involved have agreed not to disclose the purchase price.

Poggenpohl CEO Gernot Mang, who will continue to lead the team, explains: “Our future plans are to further develop the luxury kitchen segment, expand categories and deliver a 'Best of Class' luxury experience. Our valued dealer network is expected to play a key role in the reinvigoration of the Poggenpohl super premium brand. In cooperation with the joint venture team we will reinvent the kitchen industry.”

Founded in 1892 in the heart of Germany, Poggenpohl is the oldest and best-known kitchen brand in the world.

Poggenpohl kitchens are characterized by trend-setting design, technical expertise, top-quality materials and outstanding craftsmanship. In 1892 Friedemir Poggenpohl founded a small furniture company and showroom. His aim: "To improve the kitchen." Ever since, generations of Poggenpohl craftsmen and designers have done exactly that. Today, Poggenpohl shows how the boundaries between living room and kitchen are dissolving while transforming the kitchen into a living space located at the heart of the home.