Andreas Kaufmann, who owns approximately 55% of Leica Camera AG, decided not to sell his majority stake. This decision ended acquisition negotiations with HSG, a Hong Kong-based technology investment firm. The deal failed due to differences in strategic vision and pricing issues.
HSG, formerly known as Sequoia Capital China, had been a leading bidder. The firm intended to acquire Blackstone's 45% stake in the company. If Kaufmann had agreed to sell, HSG could have acquired his majority share as well. The total valuation of Leica was estimated at €1 billion.
Blackstone has held its 45% stake since October 2011 and has been seeking an exit since 2017. Leica was previously listed on the Frankfurt Stock Exchange but was taken private by the Kaufmann family in 2012.
For the 2025/2026 fiscal year, Leica reported revenue of €573 million, a 3.8% year-on-year decrease from the previous record of €596 million. The company attributed this decline to geopolitical uncertainty, unfavorable exchange rates, and increased tariffs, though it remains profitable.
The company's photography business remains the primary revenue driver despite a decline. Growth was observed in mobile, sports optics, home cinema projectors, and eyewear. While the German market grew significantly, the US market, Leica's largest single market, showed weakening consumer sentiment. Leica operates approximately 120 direct stores globally.
