 |
 |
Possehl acquires Karl Otto Knauf (GmbH + Co. KG) and expands its SME Division
Lübeck, Germany, May 5, 2010 – On May 1, 2010, the Lübeck-based Possehl Group acquired all of the shares in Karl Otto Knauf (GmbH + Co. KG). The purchase of Knauf represents Possehl's second successful acquisition in a short period of time by the new Small and Medium-sized Enterprise division, which was founded last fall.
Knauf is one of the two leading manufacturers of ice cream sticks in Europe and supplies numerous well-known ice cream manufacturers. The company was founded in 1951 by the previous owner Karl Otto Knauf initially as a producer of clothespins and canned fish liners before ice cream stick manufacturing began in 1955. Today 110 employees at the company's headquarters in Stockelsdorf near Lübeck produce about three billion ice cream sticks from renewable materials annually, achieving sales of over € 10 million. Mr. Knauf sold his company to Possehl due to the absence of a successor in the family and bearing in mind the long-term safeguarding of the company and maintenance of employment.
Uwe Lüders, Chairman of the Executive Board of L. Possehl & Co. mbH: "The acquisition of Knauf demonstrates impressively that Possehl is very attractive as a new owner of small to medium-sized businesses. In particular, our long-term approach to doing business and the preservation of the individual company's identity differentiate us from many of our competitors."
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 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
back
|
|
