AURELIUS sells MEZ handicraft products business in continental Europe to a Swiss entrepreneur
- MEZ Group on a course of growth after the reorientation by AURELIUS
- The continental European business is now being sold after the sale of the company’s activities in the UK and North America a few months ago
- Existing management team of MEZ to remain on board
Munich, July 7, 2020 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) is selling its subsidiary MEZ GmbH, which is headquartered in the Baden-Württemberg town of Herbolzheim, to a Swiss entrepreneur. With a history dating back more than 100 years, MEZ is one of the leading vendors of handicraft products in Europe, with its own production facility in Hungary. It has belonged to the AURELIUS Group since 2015. The transaction is expected to close in July. The parties have agreed not to disclose financial details.
The buyer is an experienced Swiss entrepreneur who will continue to implement the company’s current strategy together with the existing management team. During the time when it belonged to the AURELIUS Group, the company was restructured, the cost structure optimized and the product portfolio adapted to changing consumer preferences. The brand and product portfolio was streamlined with respect to markets and sales channels, the logistical operations were optimized and pure distribution companies were carved out in other countries of Europe besides Germany. Now, the company has its focus on the traditional handicraft yarn brands Schachenmayr and Regia, especially in the German-speaking countries of Europe. The sewing, embroidery and crocheting segments in the primary markets of southern and eastern Europe are served with products from the company’s own production facility in Hungary, which are sold in traditional retail outlets and newly established online channels.
The handicraft products business has launched many initiatives in the last few years to satisfy changing consumer preferences with attractive offerings. The new owner also intends to continue implementing this development strategy.