Austrian furniture retailer XXXLutz has announced the finalisation of its acquisition of Poland's Black Red White (BRW) Group. Having purchased 50% of BRW shares in July 2022, XXXLutz is now set to acquire the remaining 50%, subject to regulatory approval from competition authorities.
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XXXLutz, one of the world's three largest furniture retailers, views the acquisition as a step towards international expansion, coinciding with its 80th anniversary in 2025. The company stated that the partnership would create synergies, offering Polish consumers "greater choice, faster availability, and better prices."
BRW operates 82 own-brand stores, including 78 in Poland, and collaborates with around 300 retail partners. The company employs over 5,000 staff and exports furniture to more than 30 countries. Despite the acquisition, BRW will continue to operate under an independent management board, which will retain autonomy over the group's manufacturing operations. Details of the agreement remain confidential.
Mariusz Sośnierz, BRW's CEO, expressed confidence in the deal, stating that the partnership with XXXLutz offers 'the best conditions for future growth,' particularly in a competitive retail environment increasingly shaped by e-commerce. Thomas Saliger, spokesperson for XXXLutz, highlighted the importance of combining physical stores with a strong online presence, adding that customers 'prefer to research online but make large purchases in-store after seeking expert advice.'
BRW's manufacturing facilities are expected to benefit from XXXLutz's extensive presence across 14 European countries. Saliger emphasised that the acquisition secures market access and unlocks new growth opportunities for BRW within the wider European market.
Source: www.biznes.meble.pl