The merger brings together three regional champions in the labeling sector, RAKO Group and X-label Group from Germany and the Brazilian market leader, Baumgarten Group. The newly established entity, which stretches around the world from Latin America through Europe to Asia, is built upon the great track records of all three merging parties, who already own strong positions within and beyond their home markets. The name of the newly established entity will be announced shortly after closing of the transaction next month.
Together, the new group will operate 30 production sites across the globe, with more than 3,000 employees and over 2,000 customers from different sectors and industries, exceeding a turnover of US$500 million. These remarkable numbers in combination with a strong financial backbone through the involvement of Dr. Andreas Jacobs and his team from Genui, will ensure organic and acquisitive growth for the upcoming years.
Adrian Tippenhauer, Managing Shareholder of RAKO, Jan Oberbeck, Managing Shareholder of X-label, and Fernando Baumgarten, Managing Director of Baumgarten, jointly stated, “For all of us, this is an important and consequent step to achieve the next level for us and our customers, continuing the process of internationalization and strengthening our market position, globally and locally. Moreover, we will become the new haven for like-minded, innovative entrepreneurs, who want to join a privately owned and managed group, as only strong local partners will lead to great success.”
Furthermore, the transaction includes a succession for the Baumgarten family as they hand over the steering of the group to the new headquarters in Europe. "I am personally happy that the future of Baumgarten, with more than 130 years of history, lies within building one of the largest label converters in the world. The partnership is based on trust and the strong believe to create something greater together," says Ronaldo Baumgarten II.
The global leadership team of the new company will consist of the executives that have led their companies to their great market positions to date, including Matthias Kurtz and Adrian Tippenhauer of RAKO, Tim Fiedler and Jan Oberbeck of X-label and Fernando Gabel of Baumgarten.
The headquarters of the new group will be located in Witzhave, near Hamburg, Germany. Matthias Kurtz (Supply Chain), Adrian Tippenhauer (Sales & Business Development), Tim Fiedler (Finance) and Jan Oberbeck (Sales & Business Development) will serve as Co-CEOs of the new founded group.
- the merger is under review by German Cartel Office and closing of the transaction is to be expected later this year
- full integration of all companies is currently in planning stage between all merging parties, full roll-out will last through 2017
- all companies will operate within their legal structures until further notice