Mutares investment keeeper successfully completes acquisition and grows into a group with EUR 100 million sales
- Strategic acquisition for the expansion of the product portfolio of the keeeper Group completed
- The new product segment is intended to facilitate sales synergies and create attractive added value for customers
- Growth of the keeeper Group to more than EUR 100 million annualized revenues
Munich/Stemwede, March 2, 2020 – keeeper Group, one of Europe’s largest suppliers of innovative and high-quality household products and a portfolio company of Mutares SE & Co. KGaA (ISIN: DE000A2NB650), has successfully completed the acquisition of the German paper napkin business from the Finnish Metsä Tissue Corporation.
The keeeper Group is one of the leading manufacturers of household products in Europe and produces innovative product lines for customers in the do-it-yourself, wholesale, food and furniture industries at two sites in Germany and Poland. The now completed acquisition of Metsä Tissue’s German business at its Stotzheim site attractively expands the Group’s product portfolio to include the new product segment of high-quality paper napkins, thus offering significant added value for customers. Stotzheim is a state-of-the-art paper mill and is the market leader in Germany in the private label segment and second largest manufacturer of coloured and printed napkins.
Based on the buy-and-build approach of Mutares Group, this acquisition is a meaningful addition to keeeper’s product portfolio and should enable keeeper to effectively exploit valuable potential from sales synergies and marketing. The future subsidiary with the new product segment will operate under the name of keeeper tableware with immediate effect and thus benefit from synergies with the established and German Brand Award winning keeeper brand. After the completed acquisition, keeeper Group now aims at an annualized turnover of more than EUR 100 million and presents itself as a promising growth story in Mutares portfolio.
“The closing of this add-on transaction, following the successful completion of the acquisition of Primotecs, the former Italian business of the Tekfor Group, the acquisition of Loterios by our subsidiary Balcke-Dürr and the acquisition of Nexive with more than EUR 200 million in revenues as new platform investment, once again demonstrates our speed in implementing our ambitious growth strategy. With realizing a valuable addition of a new product segment, we were also able to support the keeeper Group in its exponential and rapid development,” says Johannes Laumann, CIO of Mutares.
Company profile of keeeper Group
The keeeper group has been part of the Mutares Group since June 2019 and is one of the largest European brand and quality suppliers of innovative plastic and paper household products. With its five clearly positioned product lines, the group serves well-known customers in around 35 countries worldwide in the DIY, food retail, wholesale and furniture retail sectors and sells its products as customers’ own brands as well as under the keeeper brand, which won the German Brand Award. At the beginning of 2020, the keeeper Group acquired Metsä Tissue’s German business for high-quality paper napkins, thereby strategically expanding its product portfolio. Following this acquisition, keeeper Group expects annualized revenues of more than EUR 100 million and employs around 700 people at three sites in Germany and Poland.