Mutares-backed Keeeper buys Metsä Tissue's German business

The sale includes the company’s real estate, machinery, equipment and warehouses, and the company’s employees will be transferred, Metsä said in a statement.

Johannes Laumann, CIO of Mutares, told Unquote that equity was deployed from Keeeper Group to finance the acquisition and that no additional equity was deployed by Mutares itself.

The company began to consider strategic options for the business in December 2018. Metsä said in a statement that its Germany-based napkin production operations had not yet reached profitability and that it had sought a solution to sell and focus on its core business.

Mutares bought a majority stake in household products producer Keeeper in May 2019. Laumann told Unquote that growth is in line with the GP’s expectations since the investment and that the company has expanded to the Dutch and French markets. He added that the firm may use Keeeper’s existing sales channels and synergies to sell Metsä Tissue’s napkins.

Laumann told Unquote that Mutares has completed three investments so far in 2020. It bought an 80% stake in Italy-based Nexive Services and completed an add-on for chemical and power industry machinery producer Balcke-Dürr in February 2020.

Company
Metsä Tissue is a subsidiary of Finland-based Metsä Group that produces tissue papers and greaseproof papers. Its roots can be traced back to 1868. The Germany-based napkin business manages the brands Fasana and Mondial.

Metsä Tissue reported 2019 sales of €1bn and its Germany-based napkin business reports revenues of €50m. The company is based in Stotzheim and has a headcount of 200.

People
Metsä Tissue – Esa Kaikkonen (CEO).
Mutares – Johannes Laumann (CIO).

Advisors
Equity – CMS (legal).

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• Topics
• Portfolio management
• DACH
• Consumer
• Germany
• Mutares