ALNO AG has confirmed that it has sold its subsidiary Impuls Küchen GmbH (Brilon) to the Steinhoff Furniture Holding GmbH (Austria).
The change of ownership is scheduled to take place at the end of June 2015, subject to antitrust approval, although ALNO says it will continue to sell the Impuls brand – together with ALNO itself, Wellmann and Pino through its existing UK business.
ALNO AG and the Steinhoff Group will co-operate on a long-term strategy, which will secure jobs and the current trading position. Steinhoff will supply Impuls kitchens to ALNO AG for the export businesses, meaning product supply and availability will continue as usual.
Currently, the ALNO Group is represented with four brands on the market: ALNO, Wellmann, Impuls and Pino. Following the sale of Impuls, the remaining domestic brands ALNO, Wellmann and Pino can be more clearly positioned in the market, says ALNO AG.
Max Müller, CEO of ALNO AG, said:
“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 developments will bring significant new business opportunities to us in the near future.”