FIEGE sells investment in Magazino to Jungheinrich
In 2017, FIEGE invested in the robotics start-up, Magazino and has since enjoyed a close collaboration with the Munich-based enterprise. FIEGE has now sold this investment to Jungheinrich. The intralogistics company will be taking over Magazino as a whole.
The FIEGE Group has sold its investment in the robotics enterprise, Magazino. Magazino designs and produces co-operative robot control systems that are mobile which automate all general cargo movements within intralogistics. In 2016, FIEGE had ordered its first three robots of the TORU model from Magazino and has worked closely with the Munich-based enterprise ever since. In 2017, the logistics provider from Greven joined Magazino as one of several shareholders, thus facilitating the then start-up to scale and advance its business model with support from other investors. Hamburg-based Jungheinrich AG will now take over the robotics specialist as a whole.
Christoph Mangelmans, Managing Director at FIEGE and former member of the Advisory Board at Magazino, tells us: “The sale of our shares brings a very exciting chapter to an end. We learned so much on this journey with Magazino and accomplished a lot. We are thrilled to have been able to contribute to the continued advancement of these robots these past years. The take-over by Jungheinrich is now the logical, but also a crucial step on Magazino’s future path. We cordially congratulate them and wish them continued success.”
And Andreas Pott, Director Strategic Ventures & Innovation at FIEGE, adds: “When we joined Magazino six years ago, it was one of our first strategic co-operations. Together, we not only continuously improved TORU robots, making them become more efficient, but based on this partnership also created the basis for Ventures, which today is one of our company’s pillars. We wish Frederik Brantner and his team only the best on their future path. We look forward to hearing and seeing many more exciting news from and about Magazino. Naturally, their meanwhile nine robotic colleagues will continue to provide great support at our logistics centres even in the future.”