Private equity firm CoBe Capital will acquire the furniture division of Gorenje d.d. (LJSE: BRVG).
The Slovenian furniture division, called Gorenje Kuhinje and Gorenje Notranja oprema, makes kitchen and home interior cabinetry. The companies have production locations in Velenje, Nazarje and Maribor, Slovenia. Terms of the deal were not disclosed.
Gorenje said it had tried to improve the performance of the furniture division in recent years, and decided to sell the business after it couldn’t achieve the desired results.
CoBe views the brand as a complement to Warendorf – a company it picked up in 2012. CoBe, based in New York, has also made investments in Bus Parts Warehouse, Stark Manufacturing and Bourrelier Education.