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Kars in Major Buyout
Listed under: News
Published: Monday, May 17, 2010
One of the country's leading craft companies has announced it has acquired a leading German businesses in what is expected to be one of the most talked about takeovers of the year.
Kars, which is currently a leading supplier of high-quality craft materials, delivering its goods to more than 4,000 retail outlets across the world, including the Netherlands, Belgium, France, Germany and Great Britain, purchased KnorrPrandell GmbH earlier this month and will be looking for further ways of strengthening its presence in the sector over the next 12 months.
Renowned for its wide and diverse product range – covering everything from paper and card making supplies, to modelling clay, paints and supplies for scrapbooking and jewellery making – Kars is hoping the move will have a number of short-, medium- and long-term effects for its customers, employees and shareholders, creating a normalised turnover of €43 million, and seeing it assume leading market positions in Germany, Switzerland and the Benulux countries.
Boasting a strong following in Europe, KnorrPrandell GmbH is perhaps best known for its innovative jewellery range, particularly its floral designs, which have been a big-seller for the company over the past year.
Focusing on strengthening its presence in areas such as the UK, France and Italy, the joint venture will trade under the name Bastel Service GmbH and be based in a new holding company in the Netherlands. Mr. Roel Semmelink, who is currently the CEO of Kars and Co, will assume the same role for the new enterprise.
Kars, which is currently a leading supplier of high-quality craft materials, delivering its goods to more than 4,000 retail outlets across the world, including the Netherlands, Belgium, France, Germany and Great Britain, purchased KnorrPrandell GmbH earlier this month and will be looking for further ways of strengthening its presence in the sector over the next 12 months.
Renowned for its wide and diverse product range – covering everything from paper and card making supplies, to modelling clay, paints and supplies for scrapbooking and jewellery making – Kars is hoping the move will have a number of short-, medium- and long-term effects for its customers, employees and shareholders, creating a normalised turnover of €43 million, and seeing it assume leading market positions in Germany, Switzerland and the Benulux countries.
Boasting a strong following in Europe, KnorrPrandell GmbH is perhaps best known for its innovative jewellery range, particularly its floral designs, which have been a big-seller for the company over the past year.
Focusing on strengthening its presence in areas such as the UK, France and Italy, the joint venture will trade under the name Bastel Service GmbH and be based in a new holding company in the Netherlands. Mr. Roel Semmelink, who is currently the CEO of Kars and Co, will assume the same role for the new enterprise.
