Having achieved its “intermediate” growth goals, parent company of Neue Alno, Riverrock intends to take steps for mid to long-term growth, together with a future owner/co-investor.
Riverrock acquired the Alno AG business, which had ceased trading, in 2017 for €20million, including machinery, land and trademark rights.
The kitchen furniture brand returned to the UK in 2018, supplying the upper mid-priced Alno, through Neue Alno.
Riverrock had realigned Neue Alno and its team over the past two years and despite the pandemic has reported sales growth of 62% in 2020.
According to the company, it has established industry specialists and sales partners in all target markets and achieved its “intermediate” sales goal.
Led by managing directors Jochen Braun and Michael Spadinger, the company reports “the Alno brand once again stands for innovative kitchen concepts and individual kitchen solutions in the national and international environment”.
The company now plans to invest in IT systems and production to help shape the direction of Neue Alno over the mid to long-term.
Riverrock intends to take these steps, together, with a future owner/co-investor and is evaluating strategic options with the management.