German TV manufacturer Loewe today announced it is to be acquired by Munich-based investors Stargate Capital GmbH.
The deal is due to be completed at the beginning of April 2014. The parties to the deal have agreed not to disclose the purchase price. Payment of the purchase price and funding for future growth have been fully secured by the acquirer and the banks involved. The coming years will see investment totalling tens of millions of euros.
Commenting on the latest announcement, Loewe UK Managing Director James McConnell said, “Stargate Capital is a serious investor with clear plans for Loewe. The investment means Loewe is now solvent and with a fighting fund for growing the business. We are on track with the development of an exciting product roadmap with strategic partner Hisense which will be debuted at IFA this year. For UK dealers this will mean better products, better supply and a rejuvenated Loewe.”
DTG Staff | 24.03.2014