News | Obi parent company


Tengelmann closes previous holding company and sets up another

The Tengelmann headquarters in the German city of Mülheim an der Ruhr.

The Tengelmann headquarters in the German city of Mülheim an der Ruhr.

The Tengelmann Group, which includes the German DIY market leader Obi, is realigning its holding as previously announced and closing down the operational business of the previous holding company (Tengelmann Warenhandelsgesellschaft KG). The new holding company Tengelmann Twenty-One KG will replace it, with a changed strategic and international orientation, according to the company.

Since many of the operational responsibilities currently discharged by the holding company will be handled in future by the affiliated companies themselves, the new holding firm Tengelmann Twenty-One can be much leaner in terms of personnel, says a press release.

In addition to the previous finance, tax and legal departments, new ones such as business development, investment management and talent development will be created. The internationalisation strategy already pursued in the past will be followed more closely.

|12 July 2019


Post a comment

* Please complete the areas marked in red correctly and in full!.

(will not be published)

* obligatory fields

Latest news

Byggmax DIY stores make 5.6 per cent more sales

The Swiss Byggmax group made sales of SEK 1.7990 bn (EUR 170.45 mio) in the second quarter of 2019 and thus achieved growth of 3.9 per cent. The View news...

L’Entrepôt du Bricolage starts the year with ten per cent plus

The 36 L'Entrepôt du Bricolage stores in the French Groupe Samse have increased their sales in the first quarter of 2019 by 10.0 per cent. The sales View news...

Kingfisher shareholders protest against remuneration of directors

At Kingfisher's annual general meeting, 24.19 per cent of the shareholders voted against the proposed directors' remuneration, as revealed by the View news...

Two per cent growth forecast for Spain in 2019

The Spanish hardware and DIY market will grow by 2.1 per cent in 2019. This forecast was presented by the Comité de Economía of the Spanish View news...