In July 2022, the XXXLutz Group acquired a 50% stake in the BRW Group. Now, the XXXLutz Group is taking over the remaining 50%, building a promising future for the BRW Group. Subject to approval by competition authorities, this acquisition will lay the foundation for international growth within the XXXLutz Group, one of the three largest furniture retailers in the world.
The partnership, now finalized by the financially strong XXXLutz Group, will enable the use of synergy effects. All customers in the furniture industry in Poland will benefit from a wider selection, faster availability, and, most importantly, even better prices.
The Black Red White Group owns 82 stores (including 78 in Poland), has a network of approximately 300 trading partners in Poland, and employs over 5,000 people. The BRW Group exports its products to more than 30 countries worldwide.
The Black Red White Group will continue to operate independently, particularly maintaining autonomous management of its furniture production companies. The parties have agreed not to disclose the details of the agreement. The acquisition of shares is subject to approval by the relevant competition authorities.
“We are convinced that joining the XXXLutz Group provides excellent conditions for future development with clear growth opportunities, especially in a highly competitive environment. The competitive landscape, particularly in online retail, requires not only significant investments but also strong partnerships. With its presence across Europe, economic scale, and extensive omnichannel experience, the XXXLutz Group will play an even greater role in the furniture market in the future,” emphasized Mariusz Sośnierz, CEO of the BRW Group.
“We look forward to welcoming our new colleagues in Poland. Together, we will operate in the growing online retail sector and face the challenging economic conditions in our industry. We firmly believe in the combination of brick-and-mortar retail with a strong online store. While customers like to gather information online, they ultimately want to seek advice from professional consultants in a furniture showroom, as well as see and touch furniture and equipment, especially for larger purchases. With our experience, we will be able to support our colleagues in Poland and help them offer Polish customers an even greater selection and even better prices,” said Thomas Saliger, spokesperson for the XXXLutz Group.
The BRW production plants will benefit from the strong presence of the XXXLutz Group in both stationary and online retail across 14 European countries. This ensures access to many markets and the opportunity to leverage the new potential that the XXXLutz Group offers throughout Europe.
Source: https://managerplus.pl/grupa-xxxlutz-przejmuje-100-udzialow-w-black-red-white-21754
