Hunter Douglas acquires three window covering businesses from Newell
Hunter Douglas acquires three window covering businesses from Newell
Rotterdam, September 22, 2006 Hunter Douglas, the world market leader in window coverings, has agreed to acquire NewellRubbermaid's Scandinavian and Portuguese window covering businesses and to take a minority (49%) interest in a Management Buy-Out (MBO) of Gardinia, Germany.
Newell's Scandinavian window covering business assembles made-to-measure window coverings and distributes packaged curtain track and window coverings in Scandinavia under the "Kirsch" and "Gardinia" brands. The operation has sales of EUR 38 mln and 215 employees.
Newell's Portuguese blindmaking and distribution operation has sales of EUR 9 mln and 110 employees.
Gardinia, based in Isny, Germany, is the leading distributor of packaged window coverings and curtain tracks to DIY chains in Germany, Eastern Europe and Russia, under its well known "Gardinia" brand. Gardinia is also a substantial long-standing customer of Hunter Douglas. Gardinia has sales of EUR 125 mln and 1,000 employees. Its long-standing General Manager, Reinhard Heidemann, will be the majority (51%) shareholder in the MBO.
Hunter Douglas intends to expand the product offering, marketing and distribution of the acquired operations through its existing European infrastructure, while leaving local management of these businesses unchanged.
Hunter Douglas has its Head Office in Rotterdam, The Netherlands, and a Management Office in Luzern, Switzerland. After giving effect to the acquisition, the Hunter Douglas Group will be composed of 170 companies operating in more than 100 countries. Hunter Douglas had sales in 2005 of EUR 1,9 billion and employs about 18,000 people.
The shares of Hunter Douglas N.V. are listed on the Euronext and the Deutsche Börse.
For further information:
Newell's Scandinavian window covering business assembles made-to-measure window coverings and distributes packaged curtain track and window coverings in Scandinavia under the "Kirsch" and "Gardinia" brands. The operation has sales of EUR 38 mln and 215 employees.
Newell's Portuguese blindmaking and distribution operation has sales of EUR 9 mln and 110 employees.
Gardinia, based in Isny, Germany, is the leading distributor of packaged window coverings and curtain tracks to DIY chains in Germany, Eastern Europe and Russia, under its well known "Gardinia" brand. Gardinia is also a substantial long-standing customer of Hunter Douglas. Gardinia has sales of EUR 125 mln and 1,000 employees. Its long-standing General Manager, Reinhard Heidemann, will be the majority (51%) shareholder in the MBO.
Hunter Douglas intends to expand the product offering, marketing and distribution of the acquired operations through its existing European infrastructure, while leaving local management of these businesses unchanged.
Hunter Douglas has its Head Office in Rotterdam, The Netherlands, and a Management Office in Luzern, Switzerland. After giving effect to the acquisition, the Hunter Douglas Group will be composed of 170 companies operating in more than 100 countries. Hunter Douglas had sales in 2005 of EUR 1,9 billion and employs about 18,000 people.
The shares of Hunter Douglas N.V. are listed on the Euronext and the Deutsche Börse.
For further information:
| A. Kuiper | L. Reitenbagh |
| Vice President & Managing Director Hunter Douglas Europe |
Chief Financial Officer |
| Phone : 31.10.4869510 | Phone : 31.10.4869582 |
| Fax : 31.10.4869019 | Fax : 31.10.48 50355 |
| E-Mail : a.kuiper@hde.nl | E-Mail : l.reijtenbagh@hdnv.nl |
| Website: www.hunterdouglasgroup.com |
