Albert Hannak, a partner at consulting firm Deloitte, has acquired the traditional German furniture brand Hülsta following its 2024 insolvency. Described as an experienced private entrepreneur, Hannak emphasised that the purchase is a purely private investment and unrelated to Deloitte or any trust arrangement.
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Hannak retained Hülsta's existing management team and intends to relaunch the brand despite a current downturn in the furniture sector. He noted that while "others see only the crisis, I see the opportunity," expressing confidence in Hülsta's potential.
The acquisition contrasts with the ongoing expansion of Austria's XXXLutz, which is awaiting antitrust approval in Brussels for its takeover of the Porta Group. Hannak denied any connection between his deal and XXXLutz, highlighting his independent approach and familiarity with the furniture industry.
The move marks a return of Hülsta to the German market under new private ownership, signalling optimism for its recovery and future growth.
Source: www.trend.at
