GENUI Acquires ZF Subsidiary Cherry Group

Cherry is possibly the most respected mechanical switch manufacturer and has years of expertise in this field. The company’s marvelous range of switches are known to be extremely reliable and stand the test of times. Recently, the German private investment firm GENUI acquired the international Cherry Group from ZF Friedrichshafen AG for an undisclosed fee. Michael Hankel, ZF member of the Board of Management responsible for Cherry said about the agreement:

“It was very important to us to find a new owner for Cherry that would offer the company and its employees a solid future with good prospects,”

“GENUI offers precisely such a future and is therefore an outstanding partner for Cherry.” ZF will sell its 100-percent share in the subsidiary as it concentrates investment in its core business. The Cherry Group posted sales of roughly €80 million in 2015. It has 380 employees worldwide, 280 of whom work at the company’s headquarters in Auerbach, situated between Nuremberg and Bayreuth.”

Dr Sumeet Gulati, partner of GENUI added:

“Input device manufacturer, Cherry, is among the world’s leading mechanical keyboard switch producers and is perfectly positioned within the growing PC gaming market”,

“GENUI is convinced that the experience and networks of both advising entrepreneurs constitutes a valuable partnership. Cherry will benefit from the planned investments, structure and strategy which have been set out for long-term growth.”

Cherry Managing Director Manfred Schöttner explained:

“Cherry’s management and workforce are convinced that the Cherry Group is facing excellent development opportunities within the new ownership structure. It gives us the opportunity to leverage the existing market potential of the Cherry brand, worldwide. We are looking forward to working with both experienced consultants and GENUI.”

Apparently, the takeover was conducted in lieu of excellent growth prospects and reassured employees that they will see some of this success.