value and opportunity

Intro:

Knorr is a company I have been looking into now for some time. It is one of those “hidden Champions” that Germany is famous for. As I drive by their HQ on a regular basis, I decided to have a deeper look into them.

History:

Knorr Bremse has a very interesting history. The company was founded in 1905 in Berlin and for a few years, BMW (in its original form) was actually a subsidiary of Knorr. In 1985, Karl Herrmann Thiele, who initially joined the company in 1969, took over the majority from the Knorr family and developed the company into a Global Player. The company is now headquartered in Munich and only went public for 80 EUR/share in October 2018.

Karl-Herrmann Thiele

Thiele died quite surprisingly in early 2021, the heirs still own around 59% of the shares via a foundation.

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