Leica Camera AG Owners Reportedly Considering Sale of Controlling Stake Valued at €1 Billion

Industry NewsAcquisition

by Nino LeitnerJanuary 27^th, 2026

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Leica Camera AG, the iconic German camera manufacturer known for its premium rangefinders and optics, may be up for sale according to reports from Bloomberg. The controlling stake could be valued at approximately €1 billion (around $1.2 billion), marking a potential major shift in ownership for the legendary brand.

The news comes on the heels of four consecutive years of record-setting revenue for Wetzlar-based company Leica, which reported sales of approximately €596 million in the fiscal year ending March 2025, representing a 7.6% increase year-over-year. For filmmakers and cinematographers who rely on Leica’s renowned optics for cinema lenses and still photography applications, any ownership change raises questions about the future direction of the brand.

Who currently owns Leica?

According to the reports, Austrian billionaire Andreas Kaufmann and private equity firm Blackstone Inc. are in discussions with advisers about a potential deal. The current ownership structure sees ACM Projektentwicklung GmbH (Kaufmann’s Austrian investment firm) holding 55% of Leica Camera AG, with Blackstone Group owning the remaining 45%.

Kaufmann has been deeply involved with Leica’s operations since ACM Projektentwicklung GmbH purchased a controlling stake in 2005, when the company was reportedly on the brink of collapse. He currently serves as chairman of Leica Camera AG’s supervisory board, while his wife Karin Rehn-Kaufmann holds the position of Art Director and Chief Representative of Leica Galleries International. The Kaufmann family has been integral to Leica’s business and cultural endeavors for over two decades.

Potential buyers and early-stage discussions

Bloomberg’s sources indicate that HSG (formerly known as Sequoia Capital China) and Swedish private equity company Altor Equity Partners are among the potential bidders, though the list is reportedly not exhaustive. It is worth noting that discussions remain at a very early stage, and there is no guarantee that any deal will materialize. According to the reports, the Kaufmann family may reinvest following a potential transaction.

This is not the first time sale discussions have surfaced. Blackstone was reportedly considering selling its stake in Leica back in 2017, though that never came to fruition. Blackstone originally acquired its minority stake from ACM Projektentwicklung GmbH in 2011 for $179 million, when Leica’s total valuation was estimated at around $400 million. The potential €1 billion valuation today represents significant growth over the past 15 years.

Leica’s transformation from near-collapse to record revenue

The company’s turnaround under Kaufmann’s stewardship has been remarkable. When ACM Projektentwicklung GmbH acquired Leica in 2005, the company was struggling to generate cash and had seen its banks terminate some credit lines. Since then, Leica has grown consistently, transitioning from a publicly-traded company on the Frankfurt stock exchange to a private entity in 2012, all while maintaining its reputation for premium optical quality.

Leica’s revenue growth has been driven by its core photography segment as well as expansion into the mobile space through partnerships, including a collaboration with Chinese smartphone manufacturer Xiaomi. Europe has posted particularly strong gains, especially in Germany. As a private company, Leica’s profit margins are not publicly disclosed, though the sustained revenue growth suggests healthy financial performance.

What a potential Leica Camera sale means for the cinematography world

For the film and video community, Leica’s optics have long held a special place. Their Leitz brand as well as the company’s cinema lens partnerships and the distinctive rendering characteristics of Leica glass continue to attract discerning cinematographers. Any change in ownership naturally raises questions about product development direction, manufacturing standards, and the brand’s commitment to professional imaging tools.

Whether this potential sale materializes remains to be seen, but it certainly bears watching for anyone invested in the future of premium imaging equipment. What do you think a new ownership structure could mean for Leica’s cinematography products? Let us know in the comments below.