HOMAG Group AG increases its existing shareholding in BRANDT to 100 percent

(PresseBox) ( Schopfloch, )
Effective as of July 30, 2012, HOMAG Group AG purchased all the remaining shares in BRANDT Kantentechnik GmbH, thus increasing its equity interest from 70 to 100 percent. Equal amounts of shares were sold by Marianne and Heinrich Brandt (brother and sister), who are retiring from entrepreneurial responsibility. It was agreed to maintain secrecy as to the purchase price.

BRANDT has been a member of the HOMAG Group since 1976, and primarily manufactures edge banding machines in the cabinet shop segment. "By tradition, BRANDT stands for excellent product quality and a high level of reliability," emphasizes Hans-Dieter Schumacher, CFO of HOMAG Group AG. He further states that the increase in the BRANDT shareholding is "a further step towards simplifying our group structure. At the same time, this brings about tax benefits and further synergies within the Group, that we intend to exploit." For the employees of BRANDT, the complete takeover by HOMAG means a continuation of the existing strategic orientation and therefore ongoing continuity.

About BRANDT Kantentechnik GmbH

BRANDT Kantentechnik GmbH manufactures edge banding machines for the cabinet shop segment. BRANDT was founded in 1932 as a workshop and soon established itself as a supplier for furniture production. BRANDT's cooperation with HOMAG Group AG dates back to 1970. In 1976, HOMAG Group AG took a majority shareholding in Heinrich Brandt Maschinenbau GmbH, which was renamed BRANDT Kantentechnik GmbH in 2000.
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