JAB Holding

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JAB Holding Company s.à rl

logo
legal form Société à responsabilité limitée
founding 2012
Seat Luxembourg
management Olivier Goudet ( CEO & Senior Partner)
Peter Harf (Chairman & Senior Partner)
Website jabholco.com

The JAB Holding Company S.à rl is a holding company , the assets of German business family Reimann managed to among other things, a majority shareholding of a perfume house Coty and the coffee company Douwe Egberts , shares in Reckitt Benckiser include, as well as investments.

The current holding company emerged from the successor company to the chemical company Joh.A. Benckiser GmbH, founded by Johann Adam Benckiser and Karl Ludwig Reimann in 1851 and based in Ludwigshafen , whose cleaning agent division Benckiser NV, based in the Netherlands, merged with the British Reckitt & Coleman to form Reckitt Benckiser in 1999 .

Investment structure

As of 2019, JAB Holding Company is divided into the following investment areas:

History until 1999

The beginnings of Benckiser

In 1823 Johann Adam Benckiser founded a salmiac smelter in Pforzheim , in which salmia was produced from ammonia and hydrochloric acid . In the following years, Benckiser acquired a gold goods factory in Pforzheim and founded a faience factory in Durlach . He later met the chemist Ludwig Reimann in Durlach, with whom he founded a chemical factory in 1851. The chemical factory produced tartaric, citric and edible acids. In 1858 the company moved to Ludwigshafen and produced phosphates there . In 1854, the first business relationships were established with Jeremiah Colman from Norwich , UK , who sold Reckitt & Sons laundry starch to Ludwigshafen. The start of the production of phosphorus salts took place in 1916.

National Socialism and the Post-War Period

Presentation of the product Calgonit at the DLG agricultural exhibition in 1955 in Munich

In the mid-1930s, Albert Reimann senior (1868–1954), Ludwig Reimann's grandson, took over the management of the medium-sized chemical company Johann A. Benckiser GmbH in Ludwigshafen. The lawyer and judge Reimann was president of the Chamber of Commerce and Industry for the Palatinate from 1937 to 1941 , later a member of the advisory board of the Ludwigshafen Chamber of Commerce and an honorary member of the local Ludwigshafen rowing club . He and his son, Albert Reimann junior , were staunch National Socialists. When Hitler came to power in 1933, the then medium-sized company set up as a NS model company . It experienced a great rise because of the high proportion of slave labor . Reimann Jr. was known for his cruelty, especially against female forced laborers, and presented himself as a victim of the Nazis after the Second World War. The processing of National Socialist history took place very late, namely from 2016, with the first publications in 2019, which brought criticism to both the company and the Reimann descendants.

The chemical company Benckiser developed household and industrial cleaners from 1956. The brands Calgon (1956), Calgonit (1964), Clearasil, Sagrotan and Quanto (1966) are developed. In 1963, Martin Gruber was appointed purchasing manager of the chemical company; In the mid-1970s, Reimann appointed Gruber as managing director. After his death in 1984, nine siblings inherited the company. Each of the children was granted the same share of the inheritance in Joh. A. Benckiser.

Expansion, restructuring and merger with Reckitt & Colman

In the early 1980s, managing director Martin Gruber brought Peter Harf from the management consultancy Boston Consulting Group . This radically rebuilt the chemical company and limited itself to the washing, rinsing, cleaning and cosmetics sectors. He sold some divisions and bought over 25 companies in the USA, Italy, Spain and Great Britain. While sales in the early 1980s were just around 250 million Deutsche Mark, they increased tenfold within a decade. In the early 1990s, Peter Harf brought Bernd Beetz into the company, who later headed Coty from 2001 to 2012 .

At the end of 1989, the Benckiser Deutschland GmbH divisions were formed as a sales company in Ludwigshafen am Rhein and Ladenburg and Benckiser Produktions GmbH. In 1992, Benckiser acquired cosmetics maker Coty Inc. from Pfizer for $ 440 million . Peter Harf split the company into two parts in 1996: Benckiser for cleaning agents and Coty for cosmetics. In 1997 Benckiser NV was listed on the Amsterdam Stock Exchange . In mid-1999, the listed Benckiser NV merged with the British Reckitt & Colman group and became Reckitt Benckiser . In 2000 the company was already generating around 3.2 billion pounds (a good 4.2 billion euros).

Financial holding Johann A. Benckiser

Johann A. Benckiser GmbH with its holdings in Coty and Reckitt Benckiser is today the financial holding JAB s.à.rl based in Luxembourg of four members of the Reimann family with their ten children. The adopted children of the Reimann-Dubbers family branch sold their shares in the 1990s. The Reimann Investors family office and Deutsche Kontor Privatbank AG founded part of the Dubbers line. Two of them contributed their capital to foundations: the Günter Reimann-Dubbers Foundation in the field of family, education and health and a foundation in the field of renewable energies, both based in Heidelberg.

The fortune of the four Reimann siblings was estimated at around 11 billion euros in autumn 2012, according to manager magazin it was an estimated 33 billion euros in 2017. The Reimann family owns around 95 percent of JAB, the remaining shares are held by 8 partners; the senior partners Peter Harf and Olivier Goudet, as well as the partners M. Hopmann ( MD ), J. Creus ( MD ), Felix B. Schaefer ( CIO ), Fabien Simon ( CFO ), Ricardo Rittes and Jacek Szarzynski. The family has bundled its holdings in JAB Holding in Agnaten SE and Lucresca SE, each based in Vienna.

JAB Holding has offices in Luxembourg, London, Washington DC, Amsterdam, Stuttgart and Sao Paulo.

Acquisitions in the luxury food sector

In 2012, JAB acquired the Californian coffee house chain and roastery Peet's Coffee & Tea for one billion dollars and the coffeehouse chain Caribou Coffee Company for 340 million dollars . In June 2013, Coty went public in New York; after a successful IPO, JAB now holds 51 percent of the shares. In 2013, a consortium led by JAB and Berkshire Hathaway took over the Dutch coffee and tea product manufacturer DE Master Blenders 1753 (including Douwe Egberts, Pickwick); In May 2014, Acorn Holdings, part of JAB Holding, and Mondelēz International announced that they wanted to merge their respective coffee brands into a new coffee company. DE Master Blenders brought in the brands Senseo, Douwe Egberts, L'OR and Pilão, among others, from Mondelēz International brands such as Jacobs, Tassimo , Gevalia and Kenco. The resulting company is called Jacobs Douwe Egberts (JDE) and is still based in the Netherlands. JDE is majority-controlled by Acorn Holdings with a minority stake (27%) by Mondelēz. At the end of 2015, JAB and other investors took over the US coffee capsule and coffee machine manufacturer Keurig Green Mountain for around 12.8 billion euros .

In 2017, JAB took over the American bakery chain Panera Bread for 7.5 billion US dollars .

In early 2018, JAB took over the US beverage giant Dr Pepper Snapple Group for $ 10.2 billion and merged the company with Keurig Green Mountain to form Keurig Dr Pepper Inc.

In February 2019, JAB acquired the Compassion-First veterinary hospital chain for $ 1.8 billion.

Luxury goods activities (JAB Luxury)

In 2007, JAB founded the Labelux Group (since then renamed JAB Luxury ) as a holding company for new acquisitions in the luxury goods industry in Vienna, and through company acquisitions in addition to the London jewelry designer Solange Azagury-Partridge (acquired in 2008), the Swiss luxury fashion brand Bally (2008 ), the US fashion brand Derek Lam (2008), the Italian leather goods manufacturer Zagliani (2009) and the British-Italian fashion brand Belstaff (2011). Bernd Hauptkorn, who was appointed Managing Director of Bally in 2009, was appointed CEO. His successor as head of the Labelux Group was Reinhard Mieck. In May 2011, the US shoe manufacturer Jimmy Choo was added to the Labelux portfolio for 576 million euros .

In 2012, the brands Solange Azagury-Partridge and Derek Lam were sold back to the respective company founders by Labelux. In June 2014 JAB dissolved the Labelux Group, so that the brands belonging to Labelux such as Bally, Jimmy Choo or Belstaff were from then on as JAB Luxury part of the JAB Holding. Mieck left the company in late 2014. In October 2014, the company floated its Jimmy Choo brand on the London Stock Exchange and sold it to Michael Kors in mid-2017 for $ 1.2 billion . In spring 2015, the Zagliani brand, founded in 1947, was integrated into the Bally company and thus effectively dissolved. At the end of 2017, JAB sold the Belstaff fashion brand to Ineos . At the beginning of February 2018, JAB sold the majority stake in Bally for 700 million US dollars to the Chinese textile company Shandong Ruyi, which has owned the brands Cerruti and Aquascutum after acquisitions , but retained a minority stake.

Web links

Individual evidence

  1. ↑ Scheherazade Daneshkhu: JAB cuts Reckitt Benckiser stake. In: ft.com. Financial Times , September 15, 2017, accessed June 1, 2019 . Payment lock, German version.
  2. ↑ Christoph Kapalschinski: Crisis at Coty: Reimann family loses almost one billion euros. In: Handelsblatt. March 25, 2019, accessed May 27, 2019 .
  3. ↑ a b JAB Holding Company | Long Term Investments | Privately Held Group. Retrieved March 13, 2018 (default).
  4. ↑ Coty: THIRD QUARTER FY19 FINANCIAL RESULTS (presentation of quarterly figures), May 8, 2019, information on the result of a public offer by JAB to the shareholders of Coty with the aim of increasing the stake from 40% to 60% on page 14, accessed on August 12, 2019
  5. ↑ Compassion-First Pet Hospitals website .
  6. ↑ a b Mirjam Hecking: New front against Nestlé. Why the Reimann clan is now investing in veterinary clinics. In: manager magazin , February 26, 2019.
  7. ↑ Klaus Sippel, Ulrich Stiehl: Archeology in the forest. ( Memento from January 17, 2013 in the Internet Archive ). In: Landesbetrieb Hessen-Forst , Kassel, 2005 (PDF; 4.7 MB), p. 38.
  8. ^ A b Company history: Reckitt Benckiser Deutschland GmbH. Tradition in a new form. ( Memento of December 12, 2008 in the Internet Archive ) In: Reckitt Benckiser , 2007.
  9. ↑ a b c d Boris Sosnitskij: Cleaners and fragrances: Family Reimann. In: brainstorms42.de , series: Der Billiardärsclub , March 29, 2003.
  10. ↑ Lukas Möhring: About us. 19 presidents since founding on April 30, 1843. In: Chamber of Commerce and Industry for the Palatinate , May 2019.
  11. ↑ Club history: History 1900-1999. In: Ludwigshafen rowing club from 1878 ( LRV 1878 ).
  12. ↑ Katrin Bennhold: Nazis Killed Her Father. Then She Fell in Love With One. In: The New York Times . June 14, 2019, ISSN  0362-4331 ( nytimes.com [accessed June 14, 2019]).
  13. ↑ Reckitt Benckiser: RB Germany - About us.
  14. ↑ a b Michael Gassmann: These Reimanns. In: Welt am Sonntag , July 13, 2014, page 5.
  15. ^ Dpa : Perfume company Coty. Michele Scannavin becomes the new boss. In: Handelsblatt / WirtschaftsWoche , July 25, 2012.
  16. ^ Pfizer agrees to sell Coty unit for 440 million. In: New York Times , May 5, 1992.
  17. ^ A b Wolfgang Hirn: Benckiser: From Calgon to Bally. In: manager magazin , August 11, 2008.
  18. ↑ About us. ( Memento of March 13, 2018 in the Internet Archive ). In: Deutsche Kontor .
  19. ^ Günter Reimann-Dubbers Foundation
  20. ^ Bildungsstiftungen.org: Günter Reimann-Dubbers-Stiftung. ( Memento from July 20, 2012 in the Internet Archive )
  21. ↑ Data sheet: VRD Foundation for Renewable Energies in Heidelberg. ( Memento of December 3, 2013 in the Internet Archive ). In: Karlsruhe Regional Council , (PDF; 14 kB).
  22. ↑ Newspaper report from the HNA on the groundbreaking ceremony on May 23, 2002. ( Memento from April 15, 2012 in the Internet Archive ). In: Hessische Niedersächsische Allgemeine (HNA) / Bioenergiehof Obernjesa / VRD Energie Stiftung , 23 May 2002, news folder.
  23. ^ Klaus Boldt: Asset Ranking. Aldi clan dominates Germany's billionaires. In: manager magazin / SpOn , October 9, 2012.
  24. ↑ Christoph Neßhöver: Asset ranking: The Reimann family is the richest in Germany for the first time. In: SpOn , October 4, 2017.
  25. ↑ Ursula Schwarzer and Martin Mehringer: Germany's most unknown billionaire family. Reimann Holding manages $ 70 billion. In: manager magazin , May 28, 2017.
  26. ^ Rüdiger Kiani-Kreß: Reimann family - Germany's most mysterious billionaires. In: WirtschaftsWoche , March 30, 2015.
  27. ↑ JAB Holding Company | Long Term Investments | Privately Held Group. Retrieved December 26, 2017 (default).
  28. ↑ M. Hopmann: Annual Report JAB Holding 2018. In: jabholco.com. JAB Holding, December 31, 2018, accessed May 5, 2019 .
  29. ↑ Bart Becht “surprisingly” left in January 2019; see. Grace Dobush: Reimann Family. Executive shakeup at JAB Holding. In: Handelsblatt , January 15, 2019; German version cf. Christoph Kapalschinski: JAB Holding. Germany's most daring family loses one of their top managers, Bart Becht. In: Handelsblatt , January 14, 2019, only the beginning of the article freely accessible.
  30. ↑ a b c JAB Holding Co .: Remodeling at the top of the coffee giants. In: food-service.de , January 14, 2019.
  31. ↑ Reuters : DE Master Blenders: Billionaire family wants to buy Senseo manufacturer. ( Memento from March 22, 2016 in the Internet Archive ). In: Handelsblatt , March 28, 2013.
  32. ↑ Mark Scott: Benckiser to Buy DE Master Blenders for $ 9.8 Billion. In: New York Times / DealBook , April 12, 2013.
  33. ↑ Press release from DE Master Blenders 1753
  34. ↑ SEC filing: AMENDED AND RESTATED SHAREHOLDERS 'AGREEMENT , March 7, 2016, accessed on August 12, 2019 (English)
  35. ^ JAB Holding Company-Led Investor Group Completes Acquisition of Keurig Green Mountain, Inc. In: keuriggreenmountain.com. March 3, 2016, accessed April 5, 2017 .
  36. ↑ Katharina Kort, Lars Ophüls, dpa : JAB Holding buys Panera: Billionaire Reimann family lands the next US coup. ( Memento from March 25, 2013 in the Internet Archive ). In: Handelsblatt , April 5, 2017.
  37. ↑ Internet presence of Keurig Dr Pepper.
  38. ^ Labelux: majority stake in Derek Lam. ( Memento of December 5, 2008 in the Internet Archive ). In: fashionunited.de , July 9, 2008.
  39. ↑ Report Overview: Labelux Group acquires Bally International AG from Texas Pacific Group Inc. ( Memento from April 10, 2012 in the Internet Archive ). In: Thomson Financial Mergers & Acquisitions , June 18, 2008.
  40. ↑ Cult shoe brand from "Sex and the City": German billionaire buys Jimmy Choo. ( Memento from January 17, 2013 in the Internet Archive ). In: Rheinische Post , May 23, 2011.
  41. ↑ Vanessa Friedman: Will Labelux sell another brand? ( Memento of November 11, 2012 in the Internet Archive ). In: Financial Times , November 8, 2012.
  42. ^ Dominique Muret: Leather goods brand Zagliani shelved; workshop taken over by Bally. In: FashionNetwork.com. March 12, 2015, accessed August 30, 2017 .
  43. ↑ Jan Schroder: JAB sells Belstaff to British chemical company. In: fashionunited.de , November 1, 2017.
  44. ↑ ladu. / Reuters : Traditional company: Chinese buy Swiss luxury company Bally. In: FAZ.net February 9, 2018.