Posted 9th October

Nison Group acquires Siematic

By KBBDaily on 9th October 2017 - 09:29am

Chinese domestic appliance company Nison Group has acquired a majority stake in Löhne-headquartered kitchen manufacturer Siematic Group, with the deal expected to close in the fourth quarter of this year.

According to CEO Ulrich W. Siekmann – the third generation of the Siekmann family to run the company following its establishment by August Siekmann in 1929 – the Nison Group will help the brand “accelerate” its international growth by aiding it in expanding into the Chinese market.

Siekmann noted in a letter to customers that he will stay in his role and will continue to head up operations and "international brand development" alongside co-manager Silvia Weppler after the acquisition. He will also remain as a minority shareholder in the company alongside his sister Kathrin André.

“The goal is to build a network of sales partners and exclusive partnerships in China together with the Nison Group, in order to accelerate growth in this key market,” said Siekmann. “Joining forces with the Nison Group offers us the opportunity to tap new markets worldwide more dynamically and ensure future success.”

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