WARENDORF, GERMANY - Aiming at Poggenpohl cabinets, U.S. investors CoBe Capital will acquire Warendorfer Küchen, a maker of premium kitchen cabinetry from AFG Arbonia-Forster-Holding AG. The deal closes December 31, 2012.
CoBe Capital, a New York City-based private investment that buys non-core corporate divestitures, said the deal for Warendorfer Küchen, a former unit of appliance maker Miehle based in Warendorfer, Germany, is expected to close on December 31, 2012.
Since September 2010 the high quality and design oriented Miele DIE KÜCHE kitchen furniture have been rebranded "Warendorf - Kitchen for Personalities." Warendorf is the only kitchen furniture manufacturer in the world with the ability to produce a unique folding cabinet carcass, which it says guarantees unrivalled torsional stiffness.
"We see tremendous opportunity to communicate Warendorf's world-class craftsmanship and design that put it on par with bulthaup, Poggenpohl and SieMatic," says Neal Cohen, CoBe Capital's founder and managing director.
Dr. Henning Walf, CoBe Capital's managing director for Northern Europe, is epxected to work closely with Warendorf's cabinets manufacturing and management team to strengthen the company's operational and financial fundamentals, as well as drive expansion across Europe and into other markets around the world.
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