Orthex continues to strengthen its position as one of the Nordic market leaders in plastic household products with the acquisition of Hammarplast Consumer AB, a Swedish plastic household products manufacturer. On 27 January 2011, Hammarplast Consumer AB’s shares and SmartStore and Hammarplast brands were acquired by Orthex. The acquisition sees Orthex double its turnover to some EUR 56m and increase its number of employees to around 300. The production of Hammarplast products at the company’s Tingsryd factory is set to continue as earlier.
“With this acquisition, Hammarplast Consumer AB is moving into an interesting phase in its development. We are now in an excellent position for further strengthening our operations and developing new and exciting product concepts and thus offering an even better service to our customers”, said Ola Hermansson, CEO, Hammarplast Consumer AB, who will take on the role of Deputy CEO of the Group.
Hammarplast Consumer AB’s previous owners, the Hermansson and Bergendahl families, will remain as minority shareholders in the Group through their holding company, and are supportive of the sale, which they see as a positive move for Hammarplast Consumer.
The Finnish private equity firm Intera Equity Partners, which in 2009 acquired a majority stake in Orthex from Kari and Tiina Kallonen, is a major contributor to the company’s growth strategy. In January 2010, Orthex doubled its turnover through the acquisition of the Sweden-based Sveico AB, a leading Nordic kitchen utensils manufacturer.
“The recent acquisition of Hammarplast Consumer following a year after the acquisition of Sveico is integral to our growth strategy. The expansion will bolster our performance and we can see major potential for leveraging genuine synergy benefits through our sales, research and development, distribution and supply chain functions,” commented Martin Grotenfelt, partner at Intera and board member of Orthex.
“This purchase is a sound next step for our business, as we seek growth in segments that are the most logical fit with us. Hammarplast is an interesting and extremely well-managed business with products and know-how that make it an ideal addition to Orthex. What we have here are two highly successful businesses made even stronger through this acquisition. Hammarplast’s extensive distribution and sales network will also allow us to roll out our international expansion plans,” said Alexander Rosenlew, CEO at Orthex, commenting on the purchase.
The 2010 financial year saw Orthex’s turnover rise to EUR 26m, with Hammarplast Consumer AB’s turnover amounting to EUR 30m. Hammarplast Consumer AB was founded in 1947 under the family-owned Hammarplast Group. As a result of the acquisition, Orthex’s product portfolio strengthens, notably through the addition of the SmartStore home storage solutions brand.
Orthex Group is a leading Nordic designer, producer and marketer of household products. The group consists of two companies, Sveico and Orthex, and its products are sold under four well-known consumer brands: Sveico, Gastromax, Kökskungen and Orthex. Orthex’s aim is to establish itself as the market-leading supplier of household products in the Nordic countries.
Hammarplast Consumer AB was founded in 1947 and has today established itself as one of the leading Nordic manufacturers of plastic household products. Harmmarplast’s domestic storage systems are marketed internationally under the SmartStore brand and its Home and Garden product lines are marketed in northern Europe under the Hammarplast brand. The company has some 160 employees.
Intera is a Finnish private equity firm founded in 2007. Intera specialises in Nordic companies with strong growth potential.
For further information, please contact:
Oy Orthex Ab, Alexander Rosenlew, CEO, tel: +358 (0)40 500 38 26,
alexander.rosenlew@orthex.fi
Hammarplast Consumer AB, Ola Hermansson, CEO, tel: +46 (0)70 567 1106, o.hermansson@hammarplast.se
Hammarplast AB, David Bergendal, CEO, tel: +46 (0)70 885 3630,
d.bergendahl@hammarplast.se
Intera Equity Partners Oy, Martin Grotenfelt, Partner, tel: +358 (0)50 2145, martin.grotenfelt@interapartners.fi
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