{"id":23357,"date":"2018-02-13T08:25:58","date_gmt":"2018-02-13T07:25:58","guid":{"rendered":"http:\/\/modern-wilderness.flywheelsites.com\/?p=23357"},"modified":"2018-06-12T08:14:23","modified_gmt":"2018-06-12T06:14:23","slug":"bene-and-neudorfler-acquire-hali-and-svoboda","status":"publish","type":"post","link":"https:\/\/officerepublic.news\/en\/2018\/02\/bene-and-neudorfler-acquire-hali-and-svoboda\/","title":{"rendered":"Bene and Neud\u00f6rfler acquire Hali and Svoboda"},"content":{"rendered":"<p><strong>The investment company BGO, led by Erhard Grossnigg and former Minister Martin Bartenstein, has bought the Austrian office furniture manufacturer Hali. In addition, the company has taken an option on all shares of Svoboda declared bankrupt last week. BGO already owns the other two major Austrian manufacturers: Bene and Neud\u00f6rfler.<\/strong><\/p>\n<p>Subject to approval from the competition authorities, Hali was bought by BGO in early February, the company said in a press release. &#8220;<em>Our goal is to form a group of office furniture producers at European level<\/em>&#8220;. The acquisition was reported to the competition authority last Monday.<\/p>\n<p>According to the latest available information, Hali is market leader in Austria with a market share of 16%, which is slightly larger than Bene. Number three is Neud\u00f6rfler with 13%, followed by Svoboda with 9%. Hali realized a turnover of around \u20ac 45 million per year, and employs 230 employees at the head office in Eferding, and at the company&#8217;s 7 sales locations in Austria.<\/p>\n<h4>Bene makes a profit again<\/h4>\n<p>&#8220;<em>With the acquisition of Hali and the possible acquisition of Svoboda, we combine a number of companies with years of experience and expertise in the office furniture market<\/em>&#8220;, says Grossnigg in the press release. The previous owner of Hali, Siegmund Gruber, joins the advisory board of BGO. Where Neud\u00f6rfler and Hali are healthy companies, Bene was highly loss-making until the acquisition by BGO in 2015. The implemented remediations have led to Bene also being profitable again since 2016.<\/p>\n<h4>Uncertainty about market share in Austria<\/h4>\n<p>BGO refers to the figures published by market research firm CSIL in July 2017 titled &#8220;The European Market for Office Furniture&#8221;, in which the share of the four companies Bene, Hali, Neud\u00f6rfler and Svoboda in the total Austrian market would be 24.8%.<\/p>\n<p>These figures are in contrast with a previous study by Kreutzer, Fischer &amp; Partners from 2016, which shows that the market share is twice as high. The agency calculated a share of almost 50% for the big four. In that report Wiesner-Hager reaches 7% and Blaha B\u00fcrom\u00f6bel at 6%. According to BGO, the latter calculation is not correct. Kreutzer Fischer would not have taken account of interior builders and furniture stores in its figures and on the one hand they calculated with factory prices and on the other hand with end-user prices.<\/p>\n<p>Kreutzer Fischer &amp; partners contradicts this. Companies such as Carpenters, IKEA, mail order companies and web shops are all included in the figures, they say. In addition, according to the researchers, factory prices and end-customer prices are the same if the furniture was brought directly onto the market by the manufacturer.<\/p>\n<p>The four companies together (Bene \u20ac 151 million, Neud\u00f6rfler \u20ac 44 million, Hali \u20ac 45 million and Svoboda \u20ac 24 million) have a joint turnover of \u20ac 264 million and thus as a group burst into <a href=\"https:\/\/officerepublic.news\/en\/2017\/12\/the-femb-top-50-office-furniture-manufacturers-in-europe-strong-rise-of-vitra\/\">the top 5 largest office furniture manufacturers in Europe<\/a> in one go. .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The investment company BGO, led by Erhard Grossnigg and former Minister Martin Bartenstein, has bought the Austrian office furniture manufacturer Hali. In addition, the company has taken an option on all shares of Svoboda declared bankrupt last week. BGO already owns the other two major Austrian manufacturers: Bene and Neud\u00f6rfler. Subject to approval from the&hellip;<\/p>\n","protected":false},"author":6,"featured_media":22478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"Bene and Neud\u00f6rfler acquire Hali and Svoboda","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[3101,3091],"tags":[3501,4517,5073,5077],"jetpack_publicize_connections":[],"acf":{"app_titel":"","app_article":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bene and Neud\u00f6rfler acquire Hali and Svoboda | OfficeRepublic<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officerepublic.news\/en\/2018\/02\/bene-and-neudorfler-acquire-hali-and-svoboda\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bene and Neud\u00f6rfler acquire Hali and Svoboda | OfficeRepublic\" \/>\n<meta property=\"og:description\" content=\"The investment company BGO, led by Erhard Grossnigg and former Minister Martin Bartenstein, has bought the Austrian office furniture manufacturer Hali. In addition, the company has taken an option on all shares of Svoboda declared bankrupt last week. BGO already owns the other two major Austrian manufacturers: Bene and Neud\u00f6rfler. 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