Mayfair Vermögensverwaltung SE is the family office of the families of Günter Herz and Daniela Herz. It invests in long term holdings of companies, short term assets like stocks and bonds, and real estate.
The long-term investment area is run by Maryland GmbH.[1] According to German press quotes, investments range from € 100m to several billion per transaction and have an emphasis on companies from the consumer goods, retail or service sectors.
The families had been long term shareholders of Tchibo Group. Günter Herz took over the leadership of the group from his father in 1965. Since then Tchibo expanded from some DM 50m turnover to almost €9.5bn on a pro forma consolidated basis.
Tchibo Frischröst GmbH, the original coffee business innovated a non-food concept with weekly changing assortments that it introduced in its 1300 store retail chain. It also expanded through an innovative concession depot concept to some 25,000 point of sale in Germany, Austria and Switzerland growing its total business to some €3.9bn turnover in 2003.[2] In 1997 Tchibo acquired its key competitor Eduscho, integrated the logistics and retail operations and included the Eduscho coffee brand in its coffee portfolio.[3][4]
In 1977 Tchibo bought a 25% stake in publicly listed Beiersdorf AG. At the time Beiersdorf achieved a turnover of some € 400m from its Nivea, Tesa and Hansaplast brands. During the 80s Nivea was repositioned from a cream brand to a personal care brand and started on a global expansion. 25 years later Nivea has become the largest personal care brand globally and Beiersdorf has grown to almost € 5bn in sales.
Finally in 1980 the group acquired a stake in the European cigarette company Reemtsma. That stake was increased over the years to a 76% holding and Reemtsma turnover grew from €1.5bn in 1980 to €8.5bn in 2002. 21 years after the first investment, Tchibo decided to sell its stake to Imperial Tobacco.[5]
In 2002 Günter Herz stepped down as CEO of the group following a shift in the supervisory board of the group. About a year later Günter and Daniela decided to sell their stakes in Tchibo Group to their siblings and set up Mayfair as a new family holding.
Investmentsedit
Mayfair has so far undertaken two investments. The first was the acquisition of a stake in publicly listed Puma AG in May 2005.[6] Following the announcement of a new strategic phase by Puma's CEO Jochen Zeitz, which involved the repurchase of licensed countries and the roll out of a retail network, Mayfair increased their stake from 17% to 27%. Two years later, when the luxury group PPR made a public offer for Puma in 2007, Mayfair decided to sell their stake in the company for 330 euros per share.[7]
The second investment was the €575 m acquisition of German certification group Germanischer Lloyd AG. Günter Herz supported the management team in an effort to fend off a hostile bid from rival Bureau Veritas. Since the acquisition, GL has broadened its scope from shipping to oil & gas and renewable energy through a number of acquisitions. From 2006 until September 2013, when GL merged with DNV (Det Norske Veritas) to become DNV GL, Mayfair was the only shareholder of GL.[8] Until 2017, DNV Foundation owned 63.5% of DNV GL, while Mayfair owned the remaining 36.5%. In December 2017, Mayfair sold their remaining stake back to the Det Norske Veritas Foundation.[9]
Referencesedit
Puma Climbs on Speculation About Bid by Billionaires
^"Interesse an Firmen aus dem Konsumgüterbereich: Tchibo-Gründer schielt auf lukrative Investments".
^(PDF). Archived from the original (PDF) on 2011-07-19. Retrieved 2010-02-11.{{cite web}}: CS1 maint: archived copy as title (link)
^"Germanischer Lloyd: Günter Herz und die schweren Pötte".
^"The Foundation Det Norske Veritas assumes full ownership of DNV GL and remains committed to Maritime headquarters in Hamburg". 2017-12-14.
References (in German)edit
Tchibo-Gründer schielt auf lukrative Investments
Schutz vor Überfremdung: Firmen suchen Milliardäre
Moneten, Macht und Marken
Puma-Aktionär Herz will Germanischen Lloyd übernehmen
Günter Herz und die schweren Pötte
April 11, 2024
mayfair, vermögensverwaltung, this, article, uses, bare, urls, which, uninformative, vulnerable, link, please, consider, converting, them, full, citations, ensure, article, remains, verifiable, maintains, consistent, citation, style, several, templates, tools,. This article uses bare URLs which are uninformative and vulnerable to link rot Please consider converting them to full citations to ensure the article remains verifiable and maintains a consistent citation style Several templates and tools are available to assist in formatting such as reFill documentation and Citation bot documentation August 2022 Learn how and when to remove this template message Mayfair Vermogensverwaltung SE is the family office of the families of Gunter Herz and Daniela Herz It invests in long term holdings of companies short term assets like stocks and bonds and real estate Mayfair Vermogensverwaltung SECompany typeSocietas EuropaeaIndustryFamily OfficeHeadquartersHamburg Germany Global ProductsInvestments Private EquityThe long term investment area is run by Maryland GmbH 1 According to German press quotes investments range from 100m to several billion per transaction and have an emphasis on companies from the consumer goods retail or service sectors Contents 1 History of the families 2 Investments 3 References 4 References in German History of the families editThe families had been long term shareholders of Tchibo Group Gunter Herz took over the leadership of the group from his father in 1965 Since then Tchibo expanded from some DM 50m turnover to almost 9 5bn on a pro forma consolidated basis Tchibo Frischrost GmbH the original coffee business innovated a non food concept with weekly changing assortments that it introduced in its 1300 store retail chain It also expanded through an innovative concession depot concept to some 25 000 point of sale in Germany Austria and Switzerland growing its total business to some 3 9bn turnover in 2003 2 In 1997 Tchibo acquired its key competitor Eduscho integrated the logistics and retail operations and included the Eduscho coffee brand in its coffee portfolio 3 4 In 1977 Tchibo bought a 25 stake in publicly listed Beiersdorf AG At the time Beiersdorf achieved a turnover of some 400m from its Nivea Tesa and Hansaplast brands During the 80s Nivea was repositioned from a cream brand to a personal care brand and started on a global expansion 25 years later Nivea has become the largest personal care brand globally and Beiersdorf has grown to almost 5bn in sales Finally in 1980 the group acquired a stake in the European cigarette company Reemtsma That stake was increased over the years to a 76 holding and Reemtsma turnover grew from 1 5bn in 1980 to 8 5bn in 2002 21 years after the first investment Tchibo decided to sell its stake to Imperial Tobacco 5 In 2002 Gunter Herz stepped down as CEO of the group following a shift in the supervisory board of the group About a year later Gunter and Daniela decided to sell their stakes in Tchibo Group to their siblings and set up Mayfair as a new family holding Investments editMayfair has so far undertaken two investments The first was the acquisition of a stake in publicly listed Puma AG in May 2005 6 Following the announcement of a new strategic phase by Puma s CEO Jochen Zeitz which involved the repurchase of licensed countries and the roll out of a retail network Mayfair increased their stake from 17 to 27 Two years later when the luxury group PPR made a public offer for Puma in 2007 Mayfair decided to sell their stake in the company for 330 euros per share 7 The second investment was the 575 m acquisition of German certification group Germanischer Lloyd AG Gunter Herz supported the management team in an effort to fend off a hostile bid from rival Bureau Veritas Since the acquisition GL has broadened its scope from shipping to oil amp gas and renewable energy through a number of acquisitions From 2006 until September 2013 when GL merged with DNV Det Norske Veritas to become DNV GL Mayfair was the only shareholder of GL 8 Until 2017 DNV Foundation owned 63 5 of DNV GL while Mayfair owned the remaining 36 5 In December 2017 Mayfair sold their remaining stake back to the Det Norske Veritas Foundation 9 References editPuma Climbs on Speculation About Bid by Billionaires Tchibo coffee heir Herz wins Germanischer Lloyd in 550 mln eur takeover Interesse an Firmen aus dem Konsumguterbereich Tchibo Grunder schielt auf lukrative Investments Archived copy PDF Archived from the original PDF on 2011 07 19 Retrieved 2010 02 11 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link Coffee marriage Tchibo and Eduscho join forces Legal gt Antitrust amp Trade Law from AllBusiness com Archived from the original on 2008 04 30 Hoch die Tasse Der Spiegel 15 December 1996 http goliath ecnext com coms2 gi 0199 1570031 Imperial Tobacco Group PLC NYSE html dead link http www ft com cms s 0 eeb600aa c1b8 11d9 943f 00000e2511c8 html nclick check 1 dead link Mayfair kauft zu Puma mit grossem Herz Germanischer Lloyd Gunter Herz und die schweren Potte The Foundation Det Norske Veritas assumes full ownership of DNV GL and remains committed to Maritime headquarters in Hamburg 2017 12 14 References in German editTchibo Grunder schielt auf lukrative Investments Schutz vor Uberfremdung Firmen suchen Milliardare Moneten Macht und Marken Puma Aktionar Herz will Germanischen Lloyd ubernehmen Gunter Herz und die schweren Potte Retrieved from https en wikipedia org w index php title Mayfair Vermogensverwaltung amp oldid 1217082373, wikipedia, wiki, book, books, library,
