German rigid packaging producer Hermann Koch Group has been sold to a group of investors for an undisclosed sum.
Dr. Schiller Treuhand Steuerberatungsgesellschaft sold 94 percent of the shares of Hermann Koch GmbH, based in Coburg, and its related company Kunststofftechnik Straufhain GmbH, based in Straufhain, to Velox GmbH & Co. KG, an investment group based in Munich.
The buyer is not connected with Velox GmbH, the plastics, additives, paints and coatings distributor based in Hamburg, Germany.
Thiemo Hagedorn and Jörg Lux have been appointed joint managing directors at Hermann Koch-Group.
Deutsche Mittelstandsfinanz acted as sole financial adviser to Dr. Schiller.
In a news release issued by Deutsche Mittelstandsfinanz, Hagedorn and Lux said: "Innovative packaging ideas, interesting design, customer-orientation and a highly efficient production will strengthen and improve our market position in the cosmetic industry in the coming years. Coburg with its cluster of business partners and suppliers is the perfect location.”
Hermann Koch-Group has annual sales of about €20 million and employs 250 at its production sites in Coburg and Straufhain.
The group uses mainly injection molding and extrusion blow molding to produce 1.2 million packaging units per day for the cosmetics market.
