Mutares Agrees to Acquire German Napkin Business of Metsä Tissue

Keeeper tableware, a portfolio company of Mutares SE & Co, has signed an agreement to acquire the German napkin business of the Finnish Metsä Tissue Corporation, one of the leading tissue paper product manufacturers globally.

The transaction with Metsä Tissue Corporation includes the real estate, machinery, equipment and warehouses at the Stotzheim mill in Germany as well as the Fasana and Mondial brands. The business will be integrated into the keeeper Group (portfolio segment Goods & Services) as a strategic add-on. Based on Mutares Group's buy-and-build approach, this acquisition is intended to complement and strategically further develop keeeper's product portfolio as well as to mutually exploit sales synergies.

The production at the Stotzheim site dates back to 1928. In Germany, the business is one of the top two manufacturers of colored and printed napkins and the market leader in the private label segment. The established customer portfolio is characterized by long-lasting relationships and is broadly diversified. In financial year 2018, the business generated sales of around EUR 45 million and employed about 200 people.

"The enormous number of 10 acquisitions in 2019 has already brought us close to the 2022 target of EUR 2 billion in group revenues - a fantastic achievement of our teams in Munich, Paris, Milan, London, Helsinki as well as in our active holdings. The current acquisition from Metsä Tissue represents a complementary add-on to keeeper Group and underlines the growth strategy of Mutares Group", commented Johannes Laumann, CIO of Mutares, on the 10th acquisition in the current financial year.

keeeper Group has been part of Mutares Group since June 2019 and is one of the largest European suppliers of innovative and high-quality plastic household products. With its clearly positioned product series, the Group serves renowned customers in the DIY, food retailing, wholesale and furniture retail sectors in around 35 countries worldwide. In financial year 2018, the Group realized sales of ca. EUR 65 million and employs at its two sites in Germany and Poland more than 500 people.

Mutares SE & Co acquires medium-sized companies and carve-outs from groups based in Europe, which are being sold as part of a repositioning and have significant potential for operational improvement. Mutares actively supports and develops its portfolio companies with its own investment and expert teams and by acquiring strategic add-ons. The aim is to achieve a significant increase in value with a focus on sustainable growth of the portfolio company. In fiscal year 2018, Mutares' investments generated consolidated sales of EUR 865 million and employed more than 4,700 people worldwide.

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