Leifheit AG: Leifheit focusing on Household Products

Leifheit AG / Disposal

01.06.2010 15:38

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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* Bathroom Furnishings will be sold
* Household Products will be strengthened through expansion and
acquisitions

Nassau/Lahn, 1 June 2010 - With retroactive effect from 1 January 2010,
Leifheit AG, Nassau, is selling its subsidiary Spirella AG (Bathroom
furnishings Division) in Embrach, Switzerland, to the Swiss private equity
fund advised by Cross, Zurich. The Board of Management of Leifheit AG
signed the contracts today, for an undisclosed purchase price. This is the
first step in Leifheit's disposal of its entire Bathroom Furnishings
division. Talks have already started on selling the Kleine Wolke and Meusch
brands, based in Bremen.

This move is consistent with Leifheit's two central strategic goals: 

* After the disposal of its ladder business in 2009, Leifheit is now taking
the next step in focusing on the four Household Products core businesses -
cleaning, laundry care, kitchen and scales. These will be significantly
strengthened by the disposal of the Bathroom Furnishings division, which is
no longer part of the core business.

* The funds released by the sale increase Leifheit AG's scope for action,
following the announcement at the start of the year that it will expand and
strengthen the Household Products division through domestic and foreign
acquisitions.

The sale to Cross, which intends to continue and expand the business,
preserves the 180 jobs at Spirella, with attractive prospects. The new
owner is a long-term investor whose existing management team plans to
follow a strategy of sustainable growth for Spirella.

Formed in 1958, Spirella AG was taken over by Leifheit in 1988 as the core
of the bathroom furnishings business. With bathroom accessories, shower
rods and curtains, bathroom rugs and bath mats, it generated turnover of
EUR 43 million in 2009. The company has around 180 employees in Switzerland
and at its subsidiaries in Germany and France.

Spirella AG will continue under the leadership of Ernst Kraft, who has been
a member of the Leifheit AG Board of Management since 2006. He will leave
the Leifheit Board of Management with the sale of Spirella on 2 June 2010.
The Leifheit Board of Management will then have two members, Georg Thaller
(CEO), who will take over Ernst Kraft's responsibilities, and Dr Claus
Zacharias (CFO).

Following its plans to sell the Kleine Wolke and Meusch brands (2009
turnover: EUR 26 million, around 120 employees), Leifheit is also involved
in exploratory discussions with potential buyers interested in developing
the operations with the existing management and employees.

Additional information is available on the Internet at
http://www.leifheit.de/en/investor-relations.html

Contact:
Leifheit AG
D-56377 Nassau
ir@leifheit.com
+49 2604 977218




01.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Leifheit AG
              Leifheitstraße
              56377 Nassau
              Deutschland
Phone:        02604 977-0
Fax:          02604 977-340
E-mail:       ir@leifheit.com
Internet:     www.leifheit.com
ISIN:         DE0006464506
WKN:          646450
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hannover, München, Hamburg, Stuttgart
 
End of News                                     DGAP News-Service
 
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