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05.10.09 Vorwerk Ventures invests in Enjo International
Vorwerk VenturesVorwerk 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 that achieve significantly better cleaning results than conventional methods while demonstrably saving their users a lot of time. Enjo’s policy involves unqualified rejection of cleaning chemicals and respect for the environment and health. Various combinations and production processes are used to produce different textile fibres to meet the specific demands of each application and achieve the best possible cleaning result. Awards and certificates from all over the world document Enjo’s achievements in the development of innovative products that make a lasting contribution to protection of the environment.
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.
For further information please contact:
Vorwerk Direct Selling Ventures GmbH
Monica Titos
Mühlenweg 17-37
42270 Wuppertal
Phone: +49 202 564 1701
Fax: +49 202 564 1708
E-Mail: monica-titos@vorwerk.de
Enjo International GmbH
Johanna Scherrer
Achstrasse 40
6844 Altach
Austria
Phone: +43 5576 77777 330
Fax: +43 5576 77777 309
E-Mail: johanna.scherrer@enjo.at
About Enjo International GmbH
Enjo International develops, produces and markets environmentally friendly household cleaning products. The idea behind Enjo cleaning systems is cleaning solely with water and textile fibres. This method of cleaning is far superior to conventional cleaning and it also saves time. Enjo products dispense with the use of cleaning chemicals and respect the environment and health. The products are marketed exclusively by sales consultants in a party system. Various countries are serviced by general importers. With its forward-looking products, the company is ideally positioned and will in future be able to further develop its international position.
For further information please visit: www.enjo.net
About Vorwerk Direct Selling Ventures GmbH
Vorwerk Direct Selling Ventures is an independent investment entity within the Vorwerk Group. The focus of investment is on fast growing companies who sell their products and services directly – either in a direct person-to-person sale or via channels such as the internet, catalogues or home shopping. Vorwerk Ventures uses minority investments to back entrepreneurs seeking a strong financing partner with an understanding of the specific challenges of direct sales. In addition to providing a sound financial basis, Vorwerk ventures creates added value for investee companies by offering them access to the wealth of experience and the international networks of the Vorwerk Group. The corporate venture capital company was founded in 2007 and has its headquarters in Wuppertal.
For more information please visit: www.vorwerk-ventures.com
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