Leifheit AG: Leifheit focusing on Household Products

Leifheit AG / Disposal01.06.2010 15:38Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------* Bathroom Furnishings will be sold* Household Products will be strengthened through expansion andacquisitionsNassau/Lahn, 1 June 2010 - With retroactive effect from 1 January 2010,Leifheit AG, Nassau, is selling its subsidiary Spirella AG (Bathroomfurnishings Division) in Embrach, Switzerland, to the Swiss private equityfund advised by Cross, Zurich. The Board of Management of Leifheit AGsigned the contracts today, for an undisclosed purchase price. This is thefirst step in Leifheit's disposal of its entire Bathroom Furnishingsdivision. Talks have already started on selling the Kleine Wolke and Meuschbrands, 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 takingthe next step in focusing on the four Household Products core businesses -cleaning, laundry care, kitchen and scales. These will be significantlystrengthened by the disposal of the Bathroom Furnishings division, which isno 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 andstrengthen the Household Products division through domestic and foreignacquisitions.The sale to Cross, which intends to continue and expand the business,preserves the 180 jobs at Spirella, with attractive prospects. The newowner is a long-term investor whose existing management team plans tofollow a strategy of sustainable growth for Spirella.Formed in 1958, Spirella AG was taken over by Leifheit in 1988 as the coreof the bathroom furnishings business. With bathroom accessories, showerrods and curtains, bathroom rugs and bath mats, it generated turnover ofEUR 43 million in 2009. The company has around 180 employees in Switzerlandand at its subsidiaries in Germany and France.Spirella AG will continue under the leadership of Ernst Kraft, who has beena member of the Leifheit AG Board of Management since 2006. He will leavethe 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 ClausZacharias (CFO).Following its plans to sell the Kleine Wolke and Meusch brands (2009turnover: EUR 26 million, around 120 employees), Leifheit is also involvedin exploratory discussions with potential buyers interested in developingthe operations with the existing management and employees.Additional information is available on the Internet athttp://www.leifheit.de/en/investor-relations.htmlContact:Leifheit AGD-56377 +49 2604 97721801.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language:     EnglishCompany:      Leifheit AG              Leifheitstraße              56377 Nassau              DeutschlandPhone:        02604 977-0Fax:          02604 977-340E-mail:       :     www.leifheit.comISIN:         DE0006464506WKN:          646450Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr              in Berlin, Düsseldorf, Hannover, München, Hamburg, Stuttgart End of News                                     DGAP News-Service ---------------------------------------------------------------------------