Homag purchases remaining shares in Brandt Kantentechnik
16 August 2012Homag Group AG has purchased all the remaining shares in Brandt Kantentechnik GmbH, thus increasing its equity interest from 70% to 100%. 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," said Hans-Dieter Schumacher, cfo of Homag Group AG.
"The increase in the Brandt shareholding is a further step towards simplifying our group structure."
