Cetec Joins Z+R Group
October 6, 2008
BRUSSELS, Belgium — The world of fabric wholesalers continues to regroup at the very high end with the acquisition of Cetec by Zimmer & Rohde.
Z+R also owns high end editeur brands Etamine, Travers, Warners and Hodsall MacKensie.
Cetec Ltd. principal Nicolas Moussempes has confirmed he has sold a majority interest in his Hong Kong based fabric wholesaling business to Zimmer & Rohde, based in Oberursel, Germany.
The deal closed late 2007 but no official announcement was ever made until now.
Cetec has six showrooms located in China, Singapore. Kuala Lumpur, Hong Kong and Macau. This gives Z+R a strong foothold in Asia, Zimmer said.
"Nicolas and I have worked together for over 40 years,'' said Andreas Zimmer, principal of Zimmer & Rohde. "Now we have formed a strategic partnership which Nicolas will manage independently." In this arrangement of responsibilities, Moussempes maintains management control of his company while Zimmer owns the majority interest, the pair confirmed at the last Decosit.
Z+R also owns high end editeur brands Etamine, Travers, Warners and Hodsall MacKensie.
Cetec Ltd. principal Nicolas Moussempes has confirmed he has sold a majority interest in his Hong Kong based fabric wholesaling business to Zimmer & Rohde, based in Oberursel, Germany.
The deal closed late 2007 but no official announcement was ever made until now.
Cetec has six showrooms located in China, Singapore. Kuala Lumpur, Hong Kong and Macau. This gives Z+R a strong foothold in Asia, Zimmer said.
"Nicolas and I have worked together for over 40 years,'' said Andreas Zimmer, principal of Zimmer & Rohde. "Now we have formed a strategic partnership which Nicolas will manage independently." In this arrangement of responsibilities, Moussempes maintains management control of his company while Zimmer owns the majority interest, the pair confirmed at the last Decosit.
