Kettler
Future secured for the time being

Lafayette Mittelstand Capital, an investment company specializing in medium-sized companies, will take over the assets of leisure-time manufacturer Kettler in an asset deal with garden furniture, sports and fitness equipment and Kettcar, which was first produced in 1961. A purchase agreement covering trademark and licensing rights was signed yesterday, Thursday, December 6. Silence has been agreed on the purchase price.

Around 500 jobs at the factories in Soennern, Ense-Parsit and Werl, founded in 1949 in Ense-Parsit, Germany, with an annual turnover of around EUR 100 million are being transferred to the new Kettler Group. A good 170 of the currently 700 employees are expected to transfer to a transfer company in the coming weeks, where they will continue to be employed and qualified. "Especially in times of upheaval, we have been participating in medium-sized companies with particular growth potential for ten years," explains a spokesman for Lafayette Mittelstand Capital. "Kettler, a trendsetter again and again, and in 2007 named 'Brand of the Century', fits well with our philosophy of participation. In line with our philosophy, together with the management, led by Olaf Bierhoff, we want to turn the corner from traditional to trendy with a turnaround. "

"Thanks to the active participation of all those involved, we were able to work out a solution that would allow the company to focus for the first time after a long time on growth and service for Kettler's enthusiastic customers and dealers." says Olaf Bierhoff, designated Managing Director of the new Kettler Group.

The purchase contract is still under reserve of committee and other agreed conditions. These must be fulfilled later this year so that the purchase contract can be legally effective.