Jomoo Kitchen & Bath to acquire Poggenpohl Moebelwerke.

Jomoo Kitchen & Bath, a Chinese hardware and plumbing supplies provider, agreed to acquire Poggenpohl Moebelwerke, a German household furniture manufacturer. Financial terms were not disclosed. “As a critical part of Jomoo’s long term sustainable market and product strategy, we value the need to well cover the high end and premium market segment. We have seriously considered the opportunity to work with or acquire an established brand with high quality and design reputation for a while. Such brand should preferably have a long-standing history, well-known around the world and well respected with a reputation for craftsmanship and excellence. Poggenpohl meet such criteria and would nicely fit into Jomoo’s market strategy in expanding its kitchen ware and cabinet offering,” Xiaowei Lin, Jomoo Germany General Manager.