Originally posted by Serkevan (...)
Leica is Leica. If Rolex or other watchmakers haven't quite gone out of business, I doubt Leica will either. Although they are collaborating with other companies.
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Originally posted by clackers (...)
Did you know they went broke and had to be saved, despite the reputation? I think they can certainly find shelter in a bigger organization, and they already have links with Panasonic. To get the loans for their next projects they're currently at the whim of an equity group, I think. Much safer to be with Panny or similar, who can much more easily go to a banker and extend credit.
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Originally posted by Serkevan Hah, I had no idea. Today I learned...
A brief history of Leitz /
Leica:
Ernst Leitz arrived in Wetzlar in 1864 at the age of 21, became partner in a local optical business in 1865, took it over as sole owner in 1869 and renamed it Ernst Leitz GmbH.
Fast forward almost 120 years. In 1986, Ernst Leitz Wetzlar GmbH contributed their various businesses to three separate subsidiaries: Leica Camera AG, Leica Microsystems GmbH and Leica Geosystems AG.
In 1987, Wild Heerbrugg AG took over Ernst Leitz Wetzlar GmbH which subsequently became Wild Leitz Holding AG.
In 1990 Wild Leitz Holding AG merged with The Cambridge Instrument Company plc and became Leica Holding B. V.
In 1996 Leica Camera AG was spun off from Leica Holding B. V. through an IPO and became a listed company.
In 2000 the French luxury group Hermès took a 31.5% stake in Leica Camera AG following a public offer and they subsequently raised their stake to 36%.
In 2005 Leica Camera AG went almost bankrupt.
In 2006 Andreas Kaufmann's family holding company ACM Projektentwicklung bought Hermès's stake and, through a subsequent takeover offer, raised their stake to 96.5% in 2007.
ACM Projektentwicklung invested tens of millions in Leica Camera AG to turn the company around. Leica Camera AG wasn't profitable until 2010.
In 2011 the US private equity fund Blackstone bought a 44% stake in Leica from ACM Projektentwicklung. Andreas Kaufmann's goal was to recoup the money invested in Leica, make a nice profit and diversify family assets. Indeed, most of the Kaufmann family's fortune, coming from the sale of the family packaging business, had been invested into one single vehicle, Leica Camera AG.
Leica Camera AG was subsequently delisted in 2012.