EANS-News: German Pellets Takes Over Austrian "Hot´ts" Group
29.03.2012 – 12:49
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Mergers - Acquisitions - Takeovers Subtitle: German pellet producer further expands its market position in Austria by acquiring Hotts Holzpellets Wismar / Mattighofen (euro adhoc) - With retroactive effect as of 1 January 2012, German Pellets GmbH, based in Wismar, Germany, has taken over the Austrian company Glechner, with headquarters in Mattighofen. The acquisition includes three production sites, the brand "Hot´ts Holzpellets" and the company´s direct sales division for wood pellets. The Glechner Group is one of Austria´s leading wood-pellet manufacturers and distributors. "Hot´ts" is the second most popular wood-pellet brand in Austria, after the German Pellets brand "FireStixx", and also has a significant market share in the neighbouring region of Lower Bavaria. In 2012 the Glechner Group expects to generate a turnover of approx. 15 million euros. The parties have agreed not to disclose the purchase price. "The acquisition of Hot´ts Holzpellets, one of Austria´s wood-pellet pioneers as well as a profitable company with an outstanding position in the end-consumer market, is an excellent opportunity for us," said Peter H. Leibold, managing partner of German Pellets GmbH. With the takeover, German Pellets is increasing its market share in the important sales regions of Upper Austria, Salzburg and Lower Austria by about 50 per cent. For the Wismar-based pellet manufacturer, this is an important strategic step for continued expansion in the Central European pellet market. The company will use and develop "Hot´ts Holzpellets" as an independent brand alongside its other brand names, "German Pellets", "FireStixx" and "German Horse Pellets". The Glechner Group will be operated as an independent company within the German Pellets Group. Gerhard and Bernhard Glechner will remain managing directors. Over the past 16 years, the Glechner brothers have successfully developed the pellet business of the "Hot´ts" Group, and their ongoing leadership will ensure continuity. The three Glechner production sites, in Mattighofen, Oberweis/Gmunden (both in Austria) and Pfarrkirchen (Bavaria), have a combined annual capacity of approx. 100,000 tonnes. The Hot´ts Group markets about half of the manufactured pellets directly through its own logistics division. The company´s distribution partners also sell its pellets under the brand name "Hot´ts Holzpellets". "Like FireStixx, Hot´ts is known in Austria for its high quality standards and is well established in the country´s private-consumer market," said German Pellets Managing Director Peter Leibold. The two wood-pellet brands will continue to operate on the market in Austria and Southern Germany. About Glechner Formerly a milling operation, the Glechner Group has been producing and marketing wood pellets since 1996, making it one of the pioneers of the Central European wood-pellet industry. By setting standards in product quality from the very beginning, "Hot´ts" has become one of the best-known brands of wood pellets in Austria and Bavaria. The company manufactures premium-quality pellets at three sites in Upper Austria and Lower Bavaria for the end-consumer markets in Austria and Southern Germany. About German Pellets German Pellets is the largest pellet manufacturer in Europe and the market leader in Germany. The German Pellets Group produces wood pellets and wood-based animal hygiene products from renewable resources at 18 sites (including FireStixx partner sites). The products are sold under the brand names "German Pellets", "German Horse Pellets", "FireStixx" and "Hot´ts Holzpellets". The wood pellets manufactured by German Pellets are used in central heating systems, pellet stoves, heating stations and power plants for the generation of green heat and green power. Further inquiry note: Press contact: Claudia Röhr Tel.: +49 (0) 3841 30306412 E-Mail: claudia.roehr@german-pellets.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: German Pellets GmbH Am Torney 2a D-23970 Wismar phone: +49 (0) 3841 30 30 6 0 FAX: +49 (0) 3841 - 30 30 6 91 00 WWW: http://www.german-pellets.de sector: Energy ISIN: DE000A1H3J67 indexes: stockmarkets: free trade/Bondm: Stuttgart, Open Market: Frankfurt language: English