German investment company acquires ZF subsidiary
“For us, finding a new owner that can provide good prospects and a solid future for the company and employees is very important for Cherry,†explained Michael Hankel, board member of ZF, who is in charge of Cherry. “GENUI is also for this reason, the future can be described as Cherry excellent partner. "ZF (ZF) will sell its 100% stake in the company Cherry, then focus more on investment in its core business. In 2015, the Cherry Group had annual sales of approximately 80 million euros. It has a total of approximately 380 employees worldwide, of whom approximately 280 employees work at the company's headquarters, in Auerbach between Nuremberg and Bayreuth. Hartmut Jenner and Joachim Coers are experienced entrepreneurs who will give the Cherry management team professional advice during this acquisition. This premise will bring more excellent development opportunities to the company and its employees and create a good growth prospect for Cherry. "As an input device manufacturer, Cherry is the world's leading manufacturer of mechanical keyboards and has a great advantage in the growing PC gaming market," said Dr. Sumeet Gulati, partner of GENUI. "GENUI believes that the experience of two senior entrepreneurs and The relationship network is very valuable and will make this cooperation strategic. Cherry will also benefit from this long-term plan investment, organizational structure and strategy." The ZF and Cherry union chairman Sonja Hahn, who is based in Auerbach, showed positive expectations for the new owner: “GENUI is a long-term and reliable partner for the trade unions. We attach great importance to the current situation. The collective agreement reached, the system of joint decision-making and the commitment to the Auerbach region." Cherry Managing Director Manfred Schöttner added: “Cherry’s management team and employees are convinced that the Cherry Group faces good opportunities for development under the new equity structure. This gives us a rare opportunity to make full use of the Cherry brand in the global market. Existing potential. We look forward to working with experienced consulting companies and GENUI." The acquisition does not require the approval of the regulatory authorities. The details of the handover plan are formally determined in November 2016. Details on the financial agreement will not be made public. About Cherry Headquartered in Auerbach, Germany, Cherry Group is one of the world's leading manufacturers of computer input devices, focusing on office systems, industrial areas, information technology security, and mechanical keyboard and PC game converters. ZF acquired the Cherry Group in 2008 and later separated the product line of computer input devices. At present, this product line is being acquired by GENUI. Since this year, Cherry's computer input device business has been operating independently in the market. About GENUI GENUI is a private investment company created by a group of outstanding entrepreneurs and investment experts. GENUI provides long-term (10 years and above) investments for medium-sized companies in German-speaking countries. Companies joining GENUI will benefit from a network of entrepreneurs made up of entrepreneurial shareholders with unique expertise. GENUI can ensure that the company develops a professional and growth-oriented corporate governance structure. About ZF ZF is the world's leading supplier of drive and chassis technology and active and passive safety technology. The ZF Group completed the acquisition of TRW on May 15, 2015 and was integrated into ZF Active and Passive Safety Technology. The new company's sales in 2015 amounted to 29.2 billion euros. It currently has about 230 manufacturing companies in about 40 countries and employs 135,000 people. In order to ensure continuous innovative R&D capabilities, ZF annually 5% of sales are invested in research and development (1.4 billion euros in 2015). ZF is one of the world's largest suppliers of automotive parts. Manual Food Chopper,Mini Food Chopper,Kitchen Food Chopper,Food Chopper Garlic Peeler Cixi Jinfeng Plastics Co.,Ltd , https://www.nbjftoolkit.com
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