Leica Camera AG in Wetzlar has acquired nearly 75 percent of the shares of Peter Coeln GesmbH, Vienna. Both companies evaluate the transaction as an excellent strategic option for the further expansion of their business. Connected to the purchase is the purchase of two Leica stores and the Auction House West light in Vienna. Financial details were not disclosed by the parties. Peter Coeln will protrude further than the Managing Director Peter Coeln GesmbH.
Founded by Peter Coeln 23 years ago Leica Shop was the world’s first of its kind, specializing in collectibles, used equipment and new goods from Leica. The company has built over the years an excellent reputation as a competent and seller of historical cameras, photographs and other collectibles from the photo-optical range. The company has a profound know-how in the collector and second-hand market as well as a far-reaching expertise in online and auction sales. The acquisition of the majority, Leica Camera AG strengthens its position in this field and benefiting from the market expertise of Peter Coeln GesmbH and their employees. The company has an extensive warehouse of vintage cameras and accessories.
The auctions of historical cameras and collectibles are the world’s largest auction house for cameras, West Photographica Auction conducted. Besides, many record prices for cameras in the past were reached, also set up the world record for the most expensive ever sold camera, a Leica 0-series from the year 1923 (EUR 2.16 million). The active since twelve years in the auction house, which also performs Photo Auctions, is part of the Peter Coeln GesmbH. The non-profit association for the promotion of photography “West Light”, also founded by Peter Coeln is not affected by the transaction, just not the image gallery OstLicht GesmbH was founded two years ago.
The CEO of Leica Camera AG, Alfred Schopf: “The majority takeover of Peter Coeln GesmbH is a unique opportunity for the Leica Camera AG, to further expand and strengthen the perception of the Leica brand in this field, the presence in the market for collectibles We. also benefit from the extensive experience of Peter Coelns in the resale of old and new Leica products in auctions and in the online trading of used cameras. ”
Peter Coeln, managing director of Peter Coeln GesmbH: “I am delighted that our can be continued up to now very successful way in partnership with Leica Camera AG and we create synergies, strengthen the quality and durability of old and new Leica products. As in times past, we place more value on customer service in a specialty store, the online trading and auction operation. “