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Possehl Takes Over Operation of Hirtler GmbH
Possehl Takes Over Operation of Hirtler GmbH –
First Acquisition by New SME Business Participations Division Successfully Completed
Lübeck, Germany, March 22, 2010 – Effective April 1, 2010, the Lübeck-based Possehl Group has acquired the business operations of Hirtler GmbH from insolvency proceedings. It will continue to operate the business under the name Hirtler Seifen GmbH. By doing so, Possehl is safeguarding all eighty or so jobs at Hirtler's headquarters in Heitersheim, South Baden and is also taking its first step towards successfully growing its newly established division for Small and Medium-Sized (SME) Business Participations. Hirtler is one of Europe's leading manufacturers of skincare soaps. Its clients include global manufacturers of branded goods and retail chains. Hirtler's product range includes various types of soap – such as alkaline soaps, syndets and combars – as well as soap base for other soap manufacturers. Established in 1887, the company was family run for several generations before being taken over by Beiersdorf AG in the late eighties. In 2007, Beiersdorf sold Hirtler to a Dutch group of companies. Last year, Hirtler became insolvent through no fault of its own when its Dutch proprietary company had become unable to pay its debts.
Possehl established a new division for SME Business Participations last fall with the aim of consolidating companies from different sectors – largely German SMEs – with sales in the
10 million EUR to 50 million EUR range. The individual companies are to retain their own identity along with autonomy in all market and customer-related matters.
Hans-Jürgen Groth, Head of the Division for SME Business Participations at Possehl, said: "I am delighted on two counts: Firstly, our acquisition of Hirtler has shown that our new business model is already bearing fruit. Secondly, our involvement has safeguarded a large number of jobs, and we can offer staff at Hirtler secure long-term prospects within the Possehl Group. This sends out a highly positive signal, especially in the current climate."
The German Federal Cartel Office has already approved the transaction.
The Possehl Group is managed by the holding company L. Possehl & Co. mbH. With eight decentralized divisions, the conglomerate has consciously adopted a broad positioning. In 2009, the Group generated sales of 1.2 billion EUR and employed approximately 6,500 people around the world.
Contact:
Uwe Lüders
Chairman of the Executive Board of
L. Possehl & Co. mbH
Beckergrube 38-52
23552 Lübeck, Germany
Phone: +49 (0) 451 148-201
Fax: +49 (0) 451 148-207
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