In 1992, the company took over the respected Asian trading house Siemssen & Co. which had already been founded in China in 1846. At the time of the takeover, Siemssen & Co. was faced with the challenge of realigning itself and opening up promising business fields. This realignment focused in particular on importing consumer and household electronics from China to Germany and other European countries, a challenge we successfully met.
The strategic goal was to establish a "one-stop supply chain manager" for various product groups, which would significantly supply the large German retail chains. Over the years, the product portfolio was expanded to include clothing, textiles, sporting goods and food supplements. To this end, the MILES company was acquired and integrated into Siemssen & Co. By 2007, this business unit had recorded an impressive annual turnover of approximately EUR 500 million. While the electronics business remained commercially challenging due to challenges related to customer returns, the textile business flourished. This segment in particular achieved an impressive average return of just under 30% per year for several years.
The realigned and profitable company was sold in its entirety in 2008 and the proceeds reinvested in the strategic orientation and growth plans of Münchmeyer Petersen & Co.
Dr. John Benjamin Schroeder
Managing Partner
