Furniture manufacturer Angstrem will acquire the Voronezh factory Chernozemye Furniture. Kommersant writes about this with reference to its source.
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Angstrem confirmed the fact of the transaction, clarifying that the companies are in the process of integration. They promised to disclose other details of the deal by the end of summer 2024. The owner of Furniture Chernozemye, Sergei Poslukhaev, declined to comment.
According to Veta expert group partner Dmitry Zharsky, the purchase of Black Earth Furniture could cost Angstrem 200–300 million rubles. He suggests that Angstrem may in the future abandon the Furniture Chernozemye brand.
Angstrem was founded in 1991 by Voronezh businessman Gennady Chernushkin. The company produces cabinet and upholstered furniture in five factories in the Voronezh region. The Group has about 400 salons in more than 80 cities of Russia and six CIS countries. In 2022, the group’s revenue, according to its data, exceeded 10 billion rubles.
Furniture Chernozemye (former Voronezhmebel enterprise) has been producing cabinet and upholstered furniture since 1966. The revenue of the main legal entity, LLC Holding Company Furniture Chernozemya, decreased by almost half in 2022, to 330 million rubles; in 2023, it increased by only 6.5%, to 351.7 million rubles. with a net loss of 670 thousand rubles.
According to the Association of Furniture and Woodworking Industry Enterprises of Russia, furniture production in monetary terms in 2022 increased by 15.2%, to 356.2 billion rubles, but in physical terms decreased slightly, by 2.7%, to 51.7 million products. In 2023, growth resumed by 25% in money, to 445.1 billion rubles, and by 33.8% in physical terms, to 67.3 million products.
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