In a major corporate shake-up, the owner of Schmidt Group has announced plans to calve up assets.
Ulrich Schmidt is expected to separate his company’s Entertainment and Fitness division (SCHMIDT Gruppe Entertainment, FitX), from its Development and Production (BALLY WULFF) division.
Schmidt will give all shares in the Entertainment and Fitness division to his family and receive all shares in BALLY WULFF in return, which the family had bought in 2008.
“I view the great success of our new LUX generation and the excellent conversions to TR 5 at BALLY WULFF as testimonials of our success in the German market,” Schmidt said.
“With a suitable strong strategic partner by our side, our products will quickly achieve further significant increases in market share both nationally and internationally. I am optimistic about concluding talks with possible partners in the near future.”
It is understood that Schmidt is currently weighing up different opportunities for strategic partnerships for the company, including a minority shareholding by the Gauselmann Group.