Rapid growth continues – Mutares acquires one of Europe’s leading suppliers of plastic household products from Wrede Industrieholding
- Already fifth transaction and second platform investment for Mutares in 2019
- Target company with around EUR 65 million turnover in the field of plastic household products
- Strategic addition to the Goods & Services segment
- Closing expected by end of June 2019
Munich, 29 May 2019 – Mutares AG (ISIN: DE000A2NB650) has signed an agreement to acquire the keeeper Group, one of Europe’s largest suppliers of plastic household products, from Wrede Industrieholding GmbH & Co. KG. The transaction is expected to be completed by end of June 2019.
The agreement between Wrede Industrieholding and Mutares includes the complete takeover of the business of keeeper GmbH with its subsidiaries in Poland and Belgium. The keeeper group will strengthen the Goods & Services portfolio segment as a new platform investment. Group revenues for the fiscal year 2018 amounted to around EUR 65 million, of which the majority is attributable to German and Polish customers.
The keeeper group is one of the largest European suppliers of innovative and high-quality plastic household products. With over 500 employees at two production sites in Germany and Poland, and a sales office in Belgium, the group serves renowned customers in the DIY, food retailing, wholesale and furniture sectors in around 35 countries worldwide.
For Wrede Industrieholding, a family-run company with over 135 years of tradition, the sale of the keeeper Group follows the family’s decision to dispose of all industrial holdings. The background of the decision is the lack of a successor in the family management.
“After almost thirty years of development work, the introduction of the ‘keeeper’ brand and the product innovations of the ‘kitchen collection’ have consistently implemented the cornerstones for a new orientation. Now we put the keeeper group into experienced and responsible hands and are sure that Mutares is the right partner for a successful future of the group”, explains Michael Sindram, Managing Director of Wrede Industrieholding.
Robin Laik, CEO of Mutares, comments: “We are delighted to add keeeper to our Goods & Services segment. Keeeper is an established supplier of plastic household products that sells its products to customers worldwide and is excellently positioned. Our in-house experts have the necessary operational experience to support keeeper in realizing its value potential and to drive sustainable and profitable growth for the Group”.
Company profile of Wrede Industrieholding GmbH & Co. KG
The Wrede Industrieholding GmbH & Co. KG, Arnsberg (www.wrede.de), bundles the industrial activities of the Wrede family. Since its foundation in 1880, the Wrede Group has undergone constant change and successfully adapted to new circumstances. With more than 2,000 employees at ten locations worldwide, the group generates sales of almost EUR 500 million. Since 2014, the group has been 100% owned by the Wrede Foundation.