M&A Activity • Jan 19, 2012
M&A Activity
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Corporate | 19 January 2012 19:05
Mutares AG: mutares AG acquires Castelli from Haworth group
Mutares AG / Key word(s): Acquisition/Private Equity
19.01.2012 / 19:05
mutares AG, Munich, has acquired Haworth S.p.A., the Italian subsidiary of the American group Haworth Inc., a world leading manufacturer of office furniture, on January 18, 2012. The company will operate in the future under its former long-term brand name Castelli. Castelli generated in 2011 a turnover of EUR 28 million with sales of exclusive office furniture and employs about 250 people at its site in San Giovanni/ Bologna, Italy.
Since 1877, Castelli has been producing innovative office furniture for the premium quality segment. As one of the European market leaders the company serves corporate customers worldwide. To further expand its international business Castelli has setup a long-term distribution partnership with the Haworth group. Dr. Axel Geuer, founder of mutares AG and member of its executive board, comments on the future development of the company: 'Based on its well established market presence and high level design expertise, Castelli is excellently positioned to quickly exploit new areas of growth. mutares is excited to own a company with the esteemed brand 'Castelli' and partner with a global brand such as Haworth.'
mutares AG, Munich ( www.mutares.de ), acquires midsized companies in whole and in part, which are sold as a result of a repositioning process at their owners and which exhibit a clear operational improvement potential. Getting engaged with its own teams, mutares actively supports its portfolio companies to generate significant value increase. The focus of the operational work is to ensure sustainable, long-term growth.
The shares of mutares AG are listed at the Open Market segment of the Berlin stock exchange (symbol: MUX, ISIN: DE000A0SMSH2).
For further information please contact:
mutares AG
Susanne Staudt
Investor Relations & Corporate Communications
Tel. +49 89 9292776-0
Fax +49 89 9292776-22
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153165 19.01.2012
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