Steinway announces acquisition of Renner2:01, 31st July 2019
Steinway & Sons has announced the acquisition of Louis Renner GmBH & Co, leading manufacturer of grand and upright piano actions
Founded in 1882 in Stuttgart, Germany, Renner is widely regarded as the world-leading producer of piano actions. The company also makes piano hammers, accessories and other special parts and tools. Renner has been supplying piano actions to Steinway for more than a century and Steinway is one of its largest customers.
Renner’s headquarters and main factory is in Gärtringen, near Stuttgart, with an additional factory in Meuselwitz near Leipzig. Steinway has guaranteed the ongoing employment of all staff in both production plants.
Steinway’s takeover of Renner is the latest in a series of strategic acquisitions over recent years. Previous acquisitions have included Kluge GmbH, the largest manufacturer of piano keys in Europe, and O S Kelly Co, the largest manufacturer of piano plates in the USA.
Guido Zimmermann, president of Steinway & Sons Hamburg, said: ‘We are very pleased about the acquisition of Renner. As Steinway & Sons has developed a reputation for building the world’s finest pianos, Renner has similarly developed a reputation for building the world’s finest piano actions and action parts. The same values connect us. It is important that Renner can continue working independently to ensure that the acquisition will be positive for the company and staff as well as for clients.’
Clemens von Arnim, CEO of Renner, added: ‘We are delighted that we were purchased by a company with German roots, with one of their two worldwide factories located in Hamburg. I am very optimistic about this move and what it means for Renner’s future – and I am looking forward to continuing to run Renner and supplying our existing customers with the quality they are used to.’