German Tissue Specialist Hakle Faces Change in Ownership

The German tissue products specialist Hakle might get a new owner soon. According to the private equity fund palero capital, which acquired the business from Kimberly-Clark (KC) several years ago, it is planning to sell the company.

“I can confirm that palero is planning the sale of Hakle,” a spokesperson for the fund tells RISI. He added that it is possible that the Crossatlantic fund, which currently holds a minority stake in Hakle, will acquire a majority holding during the upcoming change in ownership. For this reason, the company filed a corresponding application with the German competition authority Bundeskartellamt.

However, the final decision on Hakle’s future ownership has not yet been taken. “We are planning to take the decision in December/January,” the company representative said.

KC revealed plans to divest its tissue mill in Reisholz near Düsseldorf and its German rolled tissue brands to palero in November 2012. The deal, which included the 50,000-metric tpy tissue mill as well as the Hakle Dry Toilet Tissue, Dick&Durstig and Servus brands, closed in early June 2013. Since then the Reissholz mill has been doing business as Hakle GmbH.

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