Munich-based investment firm Mutares AG is to acquire the European plastic household containers moulder keeeper GmbH from its parent company Wrede Industrieholding GmbH.
With annual 2018 turnover of €65m, the keeeper company produces a range of kitchen jugs, bowls and lidded containers along with bins, buckets and home storage products at plants in Poland and Germany.
Its sale follows the decision of the Wrede family to dispose of its industrial holdings due to a lack of successors to take on the corporate management from the family circle.
Overall, the old established Wrede business group, which dates back to 1880, employs 2,000 at 10 locations worldwide generating sales of nearly €500m. Wrede Industrieholding, headquartered in Arnsberg, Germany, has been wholly owned by the Wrede Foundation since 2014.
The ‘keeeper’ business sale for an undisclosed sum is scheduled to be completed late this month (June). It will see the plastics moulding operations and 500-strong workforce become part of the goods and services business portfolio of the Munich investment group.
‘keeeper’ group, based in Stemwede, North Rhine-Westphalia, Germany, serves customers in the food, wholesale, DIY and furniture sectors in some 35 countries around the globe. Its main distribution is into the Polish and German markets.
The company’s European production facilities are situated at Bydgoszcz in northern Poland and in Stemwede, Germany. It also runs a sales subsidiary at Fleurus in Belgium.
“Now we are [passing] the ‘keeeper’ group [into] experienced and responsible hands and we are confident that with Mutares, we have found the right partner for a successful future for the group,” commented Michael Sindram, managing director of Wrede Industrieholding.
Mutares welcomed the acquisition of ‘keeeper’ group, promising its management team would support the business ensuring its future growth is “sustainable and profitable”.
“We are pleased to add ‘keeeper’ to our other goods and services segment. ‘keeeper’ is an established provider of plastic household goods which sells its products worldwide and is excellently positioned,” declared Mutares chief executive Robin Laik.
His firm’s goods and services business division already includes companies producing cardboard, tinplate packaging, steel wire and tubes and wood panels.