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Vorwerk Ventures invests in Enjo International! |
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published by Netcoo Redaktion
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Monday, 05 October 2009 |
 Vorwerk Direct Selling Ventures, the corporate venture capital entity of the Vorwerk Group, has acquired a minority shareholding in Austrian direct selling company Enjo International GmbH. Enjo International develops, produces and distributes household cleaning products based on fibre technology. Enjo products are available globally in nearly 30 countries. Retail sales in 2009 will exceed € 40 million of which 60% are earned outside Europe. With its new partner Vorwerk Ventures, the company aims at further expanding its market position and boosting international growth. The parties have agreed to keep the details of the investment confidential.
“In the area of person-to-person direct selling, consumers are particularly interested in household cleaning products. In the past and even today it is the innovative cleaning technologies of direct selling companies that are impacting the market and have the power of changing behaviour through direct contact with the consumer. Enjo’s innovative products and cleaning processes fit well into today’s world, where increasing importance is being attached to environmental concerns and sustainability”, said Norbert Muschong and Dirk Meurer, Managing Directors of Vorwerk Ventures. “We are really looking forward to working with our new partners.”
"Even during negotiations, Vorwerk Ventures proved to be a very supportive partner, always happy to offer advice and valuable input", commented Johannes Engl, founder and CEO of Enjo International. "We are delighted to have won Vorwerk Ventures as a partner who will not only help fund our future growth but also support us with expertise and its networks."
Enjo products need explaining and enable people to adapt the way they clean. This is why the products are marketed solely through sales consultants in a party system. Various countries are serviced by general importers who are provided by Enjo with marketing and administration support in addition to the product and selling system.
Vorwerk Ventures was advised on the transaction by Deloitte and Esch & Kramer RAe. |
