Elfa acquires Lumi Norge A/S
The first step regarding acquisition of the remaining 70 % of the shares in Lumi Norway A/S was finalized late January 2011 when a Stock Purchase Agreement was signed between Elfa Norge A/S and the majority owners of Lumi Norge A/S. The closing of the transaction is estimated to take place March 1st 2011.
Beginning of March this year the staff of Lumi Norge A/S will be employed by Elfa Norge A/S and this team will together be responsible for Business-to-Business sales in Norway concerning the elfa and Lumi brands.
Lumi Norway A/S was founded in 2001 as a sales company servicing the Norwegian “project market” mainly through the kitchen retail segment. Lumi Norway A/S is the exclusive seller for our Lumi brand in the Norwegian market offering the market a complete high quality storage solution of sliding doors and wood interiors.
Lumi Norway A/S has established a very good position in the “project market” with many kitchen retailers and high competence and service level.
By investing in the company Elfa will get better access to an interesting part of the Business-to-Business market and have the possibility to develop Elfa further in this sector. –The acquisition will support our group mid-term objectives and allow us to grow mainly in the Nordic “project segment”, says Per von Mentzer, CEO at Elfa International AB.
With a combination of Elfas ownership, the two companies strength and the Business-to-Business know-how of Lumi Norway, Elfa will be able to improve its market share and business position in Norway.
For more information:
Elfa International AB
Per von Mentzer, CEO
Tel: +46 490-532 50
Cell: +46 70-544 32 50