The Swiss Franke Group has now acquired an interest of 25 percent in Duravit AG, Germany. Both companies plan to mutually develop innovative product collections for the bathroom and kitchen area, under their respective brands.
This participation lays the foundation for establishing a strategic partnership in the bathroom and kitchen area. The project business also holds very good prospects for additional growth opportunities. The array of common strengths enables the partners to be even more successful in setting lifestyle trends for a better quality of life in bathrooms and kitchens. This serves as the basis for further expansion and strengthening their respective international market position.
The previous minority shareholder of Duravit, Roca Corporación Empresarial SA, sold its stake on 31st December 2015, which was a prerequisite for the investment of Franke. Subject to approval by the antitrust agencies, Franke acquires the previously held shares.
“We thank Roca for the excellent, always fair and constructive cooperation over the last two decades,” says the Supervisory Board Chairman of Duravit, Gregor Greinert. “We positively look to the future, which we intend to shape with Franke.”
“We see a lot of advantages on both sides,” adds Duravit CEO, Dr. Frank Richter. “Together, we can realise additional national and international growth potentials in the bathroom and kitchen sector, both in the showroom as well as in the project related business.”