Suofeiya Home Collection Co., Ltd. completed the acquisition of remaining 49% stake in Schmidt Kitchen Cabinet Co., Ltd. from Schmidt Groupe S.A.S.
December 16, 2022
Share
Suofeiya Home Collection Co., Ltd. (SZSE:002572) sign the share transfer agreement to acquire remaining 49% stake in Schmidt Kitchen Cabinet Co., Ltd. from Schmidt Groupe S.A.S. for approximately CNY 340 million on November 15, 2022. As of September 30, 2022, Schmidt Kitchen Cabinet Co., Ltd. generated total assets of CNY 510.9 million and net assets of CNY 16.7 million.
Suofeiya Home Collection Co., Ltd. (SZSE:002572) completed the acquisition of remaining 49% stake in Schmidt Kitchen Cabinet Co., Ltd. from Schmidt Groupe S.A.S. on December 17, 2022.
Suofeiya Home Collection Co., Ltd. specialized in the design, manufacture and marketing of custom cabinets and furniture under the Suofeiya brand. In addition, the group manufactures kitchen furniture under the Schmidt brand, wooden doors and windows under the Milanna brand, and laminated wood flooring.
At the end of 2018, Suofeiya Home Collection had 7 production sites in China.
Products are marketed through a network of more than 3,800 stores located in China.
China accounts for 95.5% of net sales.
SUOFEIYA HOME COLLECTION CO., LTD. 
