MW Holding and CAFS Invest, both companies affiliated with the XXXLutz Group, the second largest home equipment group in Europe, have reached an agreement for the acquisition of Conforama Iberia with the current owner, the Ibex Group (result of the restructuring of the Group Steinhoff). This agreement is subject to the approval of the competition authorities.
With an approximate Turnover of 5.34 billion euro, the XXXLutz Group is one of the largest furniture retailers in the world. The company was found in Haag am Hausruck in 1945, initially focussing on Austrian craftsmanship, the first product range consisting of hand-painted wooden boxes and traditional, country-style furniture. Now, XXXLutz, MomaX and Mobelix are amongst their global chains.
This operation will allow MW Holding, which also invested in Conforama Switzerland, as well as Conforama and BUT International in France, to enter the furniture and decoration market in Spain and Portugal through one of the leaders on the peninsula. With 59 stores and more than 2,300 employees, Conforama is one of the key players in the sector.
Conforama has been present in the Iberian Peninsula for more than 30 years with a consolidated and growing business. Now, thanks to the support of the new shareholder, the company will continue to strengthen its position in the market.