© tamas-ambrits-dreamstime.com Electronics Production | March 26, 2013
BSH acquire Zelmer
BSH Bosch und Siemens Hausgeräte GmbH takes over the majority stake in Zelmer. The company has through its Polish subsidiary BSH Sprzęt Gospodarstwa Domowego Sp., become the majority shareholder of Zelmer S.A.
BSH Sprzęt Gospodarstwa Domowego and Zelmer will keep their separate brands and product portfolios, under the common roof of BSH Group. The transaction is expected to unleash growth potential for both BSH and Zelmer. BSH takes control over Zelmer as a result of formal acquisition of the majority stake on the Warsaw Stock Exchange. The transaction has been preceded by a public tender offer. The transfer of 97.78 per cent of Zelmer shares was officially concluded on March 22nd. "We are delighted that this transaction has been successfully completed. Zelmer’s alignment with the BSH Group is an important milestone in our growth strategy. Zelmer's product portfolio and highly-motivated employees will play an important role in helping us achieve our plans", said BSH CEO Dr. Kurt-Ludwig Gutberlet. “We are very excited about this acquisition, which further strengthens BSH’s position both in Poland and in the region. Zelmer will complement our product portfolio and our production network with new products and with market segments, which we have not yet served”, said Konrad Pokutycki, CEO BSH Sprzęt Gospodarstwa Domowego. “Zelmer has gained a strong, strategic investor that will help the company grow within its European structure. Our highly-recognized brand and strong market position in several small domestic appliances categories in Poland, as well as our growing presence in important markets as Russia and Ukraine, backed by financial and technological support from BSH Group, will be the foundations of Zelmer’s future development”, said Janusz Płocica, CEO Zelmer S.A.