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23 Dec 2019

MCF advises Metsä Tissue on the divestment of its napkin business

Metsä Tissue Oy (“Metsä Tissue”), part of Metsä Group and a leading manufacturer of tissue papers and greaseproof papers, has agreed to divest its napkin business to keeeper tableware GmbH (“ keeeper group”), a portfolio company of Mutares SE & Co. KGaA (“Mutares”). Through this transaction, Metsä Tissue is now better positioned to focus on its core offering. MCF acted as financial adviser to Metsä Tissue in the transaction, delivering yet another successful cross-border deal with a long-term client.

MCF acted as financial adviser to Metsä Tissue in the transaction, delivering yet another successful cross-border deal with a long-term client.

The Deal

As a result of a strategic review, Metsä Tissue decided to divest its napkin business, which had limited operational synergies with other operations of Metsä Tissue. Through this strategic divestment, Metsä Tissue focuses on its profitable product categories in tissue papers and greaseproof papers as well as on developing complementary growth initiatives.

keeeper group is one of the largest European suppliers of plastic household products. The company serves its customers in DIY, food, wholesale and furniture retail sectors in around 35 countries. Mutares acquired the company in June 2019 from Wrede Industrieholding. Acquisition drives forward the diversification of keeeper group into a manufacturer of household products.

The acquisition is subject to competition authority approval in Germany and completion is estimated to take place in the first quarter of 2020.

The Target

The napkin business at the Stozheim mill in Germany is focused on production and converting of napkins. The mill was established in 1919 and acquired by Metsä Tissue in 1998. The business has long-standing expertise in napkin production and a well-established position on a stable market. Product offering includes various unicolour and printed napkins for customers in retail and AfH -segments.

About Metsä Tissue

Metsä Tissue is a manufacturer of tissue papers, greaseproof papers and facial tissues. The company provides products that improve health, hygiene and wellbeing at home, work or leisure. Metsä Tissue employs over 2,500 people with annual revenues of approx. EUR 1bn. The company is part of Metsä Group, one of the largest forest industry groups in the world.