May 29, 2020
A new name has emerged as the front runner to acquire Poggenpohl following its collapse into bankruptcy at the end April.
Lux Group Holdings, the owner of Smallbone of Devizes, Mark Wilkinson and McCarron & Co, continues its acquisition trail and is ‘close’ to a deal to buy the troubled German kitchen brand, kbbreview understands.
The purchase would cover Poggenpohl globally and a price is still unknown.
German administrators were appointed at the end of April and said parent company Poggenpohl Möbelwerke GmbH had seen a ‘considerable decline in orders and sales since the outbreak of the Covid-19 pandemic’.
Recently, German press speculated that Chinese retail giant Red Star Macalline and family-owned German logistics outfit Schröter Zeitfach KG were possible candidates for saving the company.
But the emergence of Lux Group Holdings means it is the first time the group has stepped outside of its more classic premium English-style portfolio of brands.
The group, owned by US-based investor Ron Shemesh, acquired Smallbone of Devizes and Mark Wilkinson in 2018. In 2019 the group continued with McCarron and launched Brookmans by Smallbone. Last month it bought the assets of bespoke kitchen and furniture brand Christopher Peacock (London) Ltd following its liquidation.
It recently announced the opening of a spectacular new £15m flagship Smallbone showroom in Knightsbridge.
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