Maxingvest

maxingvest ag
legal form	Corporation
founding	1977
Seat	Hamburg , Germany
management	Martin Hansson, board member Michael Herz , board member Thomas Holzgreve, board member Reinhard Pöllath , chairman of the supervisory board
Number of employees	31,545 (2018)
sales	€ 10.381 billion (2018)
Website	www.maxingvest.de

The Maxingvest AG (proper spelling maxingvest ag ; formerly Tchibo Holding AG) based in Hamburg is the umbrella company for the operative part of corporations Tchibo and Beiersdorf AG . As a management holding , Maxingvest supports its independently operating subsidiaries. Maxingvest holds 100 percent of the capital in Tchibo, and directly and indirectly controls over 50 percent of the voting rights in Beiersdorf (as of December 31, 2018). In addition, Maxingvest mainly has asset management subsidiaries.

The company name refers to the founding couple Max and Ingeburg Herz . The company is wholly owned by the Herz family .

history

In the first few years, the story coincides with that of the Tchibo Group: Max Herz and Carl Tchilling-Hiryan founded Tchibo GmbH in 1949. The brand name Tchibo arose from the name Tchilling and the word bean . The two founders came up with the idea of ​​sending coffee by post. Max Herz managed the company until his death in 1965. After the death of his father, Günter Herz continued the company from 1965 .

In 1974, Tchibo acquired a minority stake in Beiersdorf AG and in 1980 a majority stake in Reemtsma Cigarettenfabriken GmbH . With these equity investments, Tchibo achieved greater diversification , but with Reemtsma's brewery investments, it also entered into unprofitable business areas. The holding company was founded in 1977.

In 1988, Tchibo Frisch-Röst-Kaffee AG was transformed into Tchibo Holding AG (today Maxingvest ) and the coffee business was spun off into the newly founded wholly-owned subsidiary Tchibo Frisch-Röst-Kaffee GmbH .

In 2001 Ludger Staby took over as CEO of Tchibo Holding from Günter Herz and increased the stake in Beiersdorf AG; the siblings Günter and Daniela Herz left the company and sold their shares to their siblings Michael and Wolfgang.

In 2002 Tchibo sold its stake in Reemtsma Cigarettenfabriken GmbH to Imperial Tobacco . As a result, Tchibo bought Allianz's 44 percent stake in Beiersdorf. The coffee company outbid the Beiersdorf competitor Procter & Gamble , which had also bid on the Allianz shares. This was welcomed by Hamburg politicians, who had feared the sale of the successful Hamburg company Beiersdorf to a foreign company and therefore supported Tchibo with the purchase.

On July 5, 2007, Tchibo Holding changed its name to Maxingvest by majority vote at the Annual General Meeting . This was done primarily in order to emphasize the function of the parent company through the name change.

Shareholders

The shares in Maxingvest are distributed among the Herz family as follows :

• 40.0% - Michael Herz
• 40.0% - Wolfgang Herz
• 20% - Max and Ingeburg Heart Foundation

Holdings

As of December 31, 2018, Maxingvest lists the following as "major companies" of the Maxingvest Group:

• Tchibo (2018: sales of EUR 3,148 million, 11,849 employees)
  • Tchibo GmbH , Hamburg (100%)
  • Eduscho (Austria) GmbH , Vienna, Austria (100%)
  • Tchibo Schweiz AG, Winterthur, Switzerland (100%)
  • Tchibo Coffee Service GmbH, Hamburg (100%)

• Beiersdorf (2018: € 7,233 million in sales, 19,659 employees)
  • Beiersdorf AG , Hamburg (50.69% of the voting rights , of which 50.46% indirectly via an investment company owned jointly with the Joachim Herz Foundation (maxingvest 84.4%, Joachim Herz Foundation 15.6%) and 0.55% directly = 43.14% of the capital)
    • Beiersdorf Ges GmbH, Vienna (subsidiary of Beiersdorf)
    • La Prairie Group Deutschland GmbH, Baden-Baden (subsidiary of Beiersdorf)
    • Tesa SE , Hamburg (subsidiary of Beiersdorf, forms an independently managed subgroup there)

Individual evidence

1. ↑ Stock exchange prospectus 2004, addendum according to § 10 Securities Sales Prospectus Act, p. 21, 1st paragraph
2. ↑ maxingvest increases sales and earnings
3. ↑ Coffee history: the history of coffee at Tchibo
4. ↑ Particularly bitter - DER SPIEGEL 49/1984
5. ↑ Gunhild Freese: When siblings play with billions . In: Die Zeit , No. 12/2002, March 14, 2002, p. 29.
6. ↑ Tchibo buys Nivea Group Beiersdorf , In: Tagesspiegel.de , October 24, 2003 , accessed on August 7, 2020
7. ↑ maxingvest AG: maxingvest ag: The new name of Tchibo Holding AG. July 6, 2007, accessed July 20, 2010 . 
8. ↑ Herz-Brüder pass on shares - manager magazin . In: manager magazin . ( manager-magazin.de [accessed on August 15, 2017]).