Innovative startup joins HORNBACH Group: HORNBACH Baumarkt AG acquires
Seniovo, the market leader for barrier-free bathroom conversions

EQS-News: HORNBACH Baumarkt AG / Key word(s): Takeover
Innovative startup joins HORNBACH Group: HORNBACH Baumarkt AG acquires
Seniovo, the market leader for barrier-free bathroom conversions (news with
additional features)

27.11.2023 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Innovative startup joins HORNBACH Group: HORNBACH Baumarkt AG acquires
Seniovo, the market leader for barrier-free bathroom conversions

Berlin/Bornheim (Palatinate), November 27, 2023. HORNBACH Baumarkt AG is
taking over Seniovo, a Berlin-based startup specializing in barrier-free
bathroom conversions, as of December 1. The DIY retail group is thus
successfully acquiring the market leader for this range of services.

'I am delighted that we have been able to bring Seniovo's Managing Directors
Jonathan Kohl, Florian Stiebler, and Robert Schneider on board, as well as
the whole startup team. Seniovo will contribute a whole range of fresh
perspectives and expertise to serial, standardized bathroom refurbishment,
further underlining HORNBACH's competence in this area', explains Christa
Theurer, a member of the Board of Management of HORNBACH Baumarkt AG. By
bringing all project participants together and coordinating the whole course
of the project, the startup has a consistent focus on its customers.

'We are a platform for barrier-free and senior citizen-friendly conversion
work. Here, we digitalize the whole value chain to provide our customers
with a full-service package: from offer compilation to applying for grants
and obtaining permission from landlords, through to professional
implementation. Together with HORNBACH, we will now be able to offer our
services to even more customers and partners. I am thrilled by this
recognition of our work to date and look forward to making further progress
on this course together', comments Jonathan Kohl, founder and Managing
Director of Seniovo.

'Given demographic change, the topics of barrier-free conversion work and
age-appropriate living offer many opportunities for HORNBACH's ongoing
positive business performance. Taking over Seniovo is a further step that
will help to promote our strategy', remarks Christa Theurer.

Since 2017, Seniovo has implemented more than 3,000 barrier-free or
low-barrier bathroom conversions. The consortium of investors financing the
Berlin-based startup in its development include IBB Ventures, a Berlin
venture capital investor, and PT1 - PropTech1 Ventures, the European VC
investor for transformative property technologies. Anja Rath, Managing
Partner of PT1, and Christian Seegers, Investment Director at IBB Ventures,
both formerly members of Seniovo's Advisory Board, comment: 'It is
impressive to see how Seniovo has developed since we made our initial
investment several years ago. We would like to thank Seniovo's management
team, namely Jonathan Kohl, Florian Stiebler and Robert Schneider, as well
as our co-investors, for the superb work together. Seniovo has found a
fantastic partner in HORNBACH and we are certain that this will take
Seniovo's mission of enhancing its customers' quality of life in their own
four walls to the next level.'

HORNBACH customers have long had the option of drawing on the company's
trade service for their projects, such as bathroom renovation, kitchen
installation, decoration, floor laying etc. Like at Seniovo, the advantages
are obvious: one contract partner, fair price calculations in advance based
on HORNBACH's permanently low prices, reliable timings, and a large
selection thanks to an extensive product range. The Seniovo takeover will
boost the bathroom expertise within HORNBACH's trade service and thus make
it even more attractive for far more people.

Takeover underlines innovative strength

'Creating added value for our customers was the prime factor motivating our
decision to make this takeover', explains Karin Dohm, CFO of the HORNBACH
Group. 'Via our trend research, we analyze topics that are important to
people and make targeted efforts to further develop our strategies along
these lines, whether by developing new services within the company, forging
strategic partnerships, or making takeovers', she adds. HORNBACH will retain
its overall approach of basing its development as a group of companies on
organic growth.

Great potential for the future

'We will benefit from Seniovo, particularly in terms of its digital
processes, the software it has internally developed, and its network of
partners', declares Christa Theurer. For the first 100 days together,
HORNBACH has compiled a program aimed at actively integrating teams into
processes and ensuring a smooth exchange of expertise. 'This also opens up
new opportunities for professional customer advisors at our stores. Just one
example: Seniovo's services can be offered in a targeted manner to housing
construction companies. I am already really curious to see what we will make
of all these opportunities', adds Christa Theurer.

In future, specialist advisors at HORNBACH's 97 stores in Germany will be
able to provide customers with even more targeted advice on barrier-free
bathroom conversions. Thanks to Seniovo's full-service offering, one
particularly attractive feature for customers is the possibility of directly
applying for financial grants within the project. For those affected and
their relatives, the process of applying for grants is often complicated and
takes a great deal of time until approval is received. Seniovo has gained
great expertise in this area in recent years. HORNBACH's customers now also
stand to benefit from this expertise in future.

Non-disclosure tradition for contractual details

Seniovo and HORNBACH have agreed not to provide any disclosures concerning
the contractual details of the takeover.

HORNBACH is an independent, family-run, and listed company which generated
net sales of Euro 6.3 billion in the 2022/23 financial year (balance sheet
date: February 28, 2023). This makes the HORNBACH Group one of the five
largest DIY and garden product retailers in Europe. Founded in 1877,
HORNBACH is the only DIY sector player with a history stretching back six
generations. The Group currently operates 170 DIY stores and garden centers,
two specialist retail stores, and online shops in nine countries across
Europe. The HORNBACH Group also includes HORNBACH Baustoff Union, a regional
builders' merchant company with 39 locations in southwestern Germany and
France. HORNBACH's sales concept and its product ranges are especially
aligned to the needs of project and commercial customers. The company
guarantees permanently low prices to its customers, making it the price
leader in its sector. The high quality of advice and excellent service it
provides to customers have been documented in numerous independent tests and
studies. With pioneering achievements, such as the first combined DIY store
and garden center (1968), the first megastore (1980), and the first DIY
store with a drive-in facility (2003), HORNBACH has repeatedly demonstrated
its power of innovation. The company has also acted as a jobs motor for
decades, with more than 25,000 employees now working to advance its success.

Press contacts

      Jonathan Kohl Seniovo GmbH    Christian Grether HORNBACH Baumarkt
   Tel.: +49 174 9944244 E-Mail:    AG Tel.: +49 6348 60 2571 E-mail:
   jonathan.kohl@seniovo.de Web:    christian.grether@hornbach.com Web:
                      seniovo.de    hornbach.de

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Additional features:

File: https://eqs-cockpit.com/c/fncls.ssp?u=d8d9c39deb82a555d99918795bd341cd
File description: Jonathan Kohl, Seniovo's founder and Managing Director, in
conversation with HORNBACH Director Christa Theurer. © HORNBACH

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27.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        HORNBACH Baumarkt AG
                   Hornbachstraße
                   76878 Bornheim bei Landau/Pfalz
                   Germany
   Phone:          +49 (0)6348 / 60 00
   Fax:            +49 (0)6348 / 60 40 00
   E-mail:         info@hornbach.de
   Internet:       www.hornbach.de
   ISIN:           DE0006084403
   WKN:            608440
   Listed:         Regulated Unofficial Market in Hamburg, Hanover,
                   Tradegate Exchange
   EQS News ID:    1781865

End of News EQS News Service
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1781865 27.11.2023 CET/CEST