P+P advises GALA-KERZEN on the acquisition of Korona Candles S.A.
Wielun — GALA-KERZEN, a portfolio company of Equistone Partners, has acquired Korona Candles S.A. (“Korona”) of Poland. The sellers of Korona’s shares were private investors and the management, which will take a reverse stake in GALA-KERZEN GRUPPE. The parties have agreed not to disclose details of the transaction.
Korona is a global manufacturer of candles and supplies renowned international corporations with a wide range of private label products. The company, based in Wieluń, Poland, was founded in 1992 and also has a production facility in Dublin, Virginia, USA. The approximately 1,000 employees generated sales of over 100 million euros.
With the third acquisition of GALA-KERZEN within a few months after the acquisition of the Indian Ramesh Flowers and the Berlin JuwelKerze, GALA-KERZEN rounds off its range and expands its international presence. The company has thus become a leading global candle manufacturer.
In 2016, Equistone acquired a stake in GALA-KERZEN as part of a succession plan. Equistone Partners Europe is one of Europe’s leading equity investors with a team of more than 35 investment specialists in six offices in Germany, Switzerland, France and the UK. Equistone primarily invests in established medium-sized companies.
Advisors to GALA-KERZEN on the German part of the transaction: P+P Pöllath + Partners
Dr. Andrea von Drygalski, Photo (Partner, Lead, M&A/PE, Munich), Dr. Verena Stenzel (Senior Associate, M&A/PE, Munich), Dr. Benedikt Hohaus (Partner, Management Participation, Munich), Dr. Roman Stenzel (Counsel, Management Participation, Munich), Nemanja Burgic (Associate, M&A/PE, Munich)