On 01 January 2010 the Ouborg Group B.V. will sell 51 percent of its Princess Holding B.V. stock to the German company WMF AG. WMF, headquartered in Geislingen an der Steige, also insisted on an option to acquire the remaining 49 percent in early 2012.

Princess, a global company in small domestic appliances, was founded in 1994 by Aad Ouborg. Thanks to its distinctive approach the company has grown at a breathtaking pace in the last decade and a half. Princess is the world's largest provider of small chrome domestic appliances and is also renowned for its designer products. Distributors in 75 countries around the globe and a staff complement of some 90 back home all contribute to furthering the success story that is Princess. Under the motto ‘Ondernemen is Entertainen' (‘Enterprising is Entertaining'), Princess reached annual sales of 63 million euros in 2008.

WMF was founded in 1853 and has grown dramatically in the last decade as a provider of cutlery, cookware, tableware, cutters and coffee machines, amongst other products. The company is considered to be a powerful entity when it comes to products that satisfy the highest possible requirements in terms of production, quality and ease of use.

Thanks to the reputation WMF has acquired as a leading international provider of professional coffee machines, the brand was also highly successful when it tried its luck on the consumer market.

For WMF the takeover of petra-electric in 2008 was a logical step with regard to complementing the WMF expertise in the field of consumer coffee machines and extending the range to include small electrical appliances.

The partnership with Princess has enabled WMF to grow at an even more efficient and rapid rate and firmly establish the German company as an A brand in the small domestic appliance sector. Thorsten Klapproth, chairman of the management board at WMF, says that one of the reasons behind the partnership was the fact that WMF can now utilise the powerful and efficient organisation of Princess, especially in Hong Kong and China. This will enable WMF to fit into the network that Princess has built up in the fields of product development, acquisitions and distribution, allowing the different groups to generate an incredible synergy.

WMF will use the partnership to further its strategy of growth in both neighbouring regions and further afield

Aad Ouborg considers WMF to be a strong partner that will further reinforce and extend the market for Princess. He is set to remain on board at Princess and will continue leading the company as he always has. Princess will continue to independently create products, both under its own name and under the brand name NOVA.

The Ouborg Group will retain a number of activities, including the Princess Entertainment Group, the Princess Sports Group and Princess Hotels.