NULL

AURELIUS acquires Panasonic’s European Consumer Battery Business

17.03.2021

AURELIUS acquires Panasonic’s European Consumer Battery Business

  • Panasonic Consumer Energy is one of the leading producers of consumer batteries in Europe
  • Carve-out of a division from Panasonic Europe B.V.  in two separate European countries demonstrates AURELIUS’s expertise in executing complex cross-border divestments

Munich (Germany) / Osaka (Japan), March 17, 2021 – AURELIUS today announces that it has agreed to acquire all shares of Panasonic’s European Consumer Battery Business Units (“Panasonic Consumer Energy”) from Panasonic Europe B.V. (“Panasonic Europe”). From its European sales headquarters in Zellik Belgium, Panasonic Consumer Energy operates two manufacturing facilities, one located in Belgium and one in Poland. Across its locations Panasonic Consumer Energy today employs around 900 people and generated revenue of approx. EUR 230 million in 2019.

Panasonic Consumer Energy is one of the leading producers in the European consumer batteries market and has a long-standing history of high-quality manufacturing and distribution in the European market dating back to 1970. Its key products include alkaline and zinc carbon batteries as well as both rechargeable Ni-MH batteries and specialty batteries.

The transaction will be executed by AURELIUS European Opportunities IV, controlling a 70 % stake and its Co-Investor AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8), controlling the remaining 30 %. The financial terms of the deal are undisclosed. The transaction is subject to approval by the competent competition authorities and is expected to close in the second quarter of 2021.

Commenting on the transaction, Gilles van Kooten, Managing Director AURELIUS Benelux, said: “I welcome Panasonic Consumer Energy to AURELIUS and look forward to supporting the management team in the next phase of our joint journey. We are confident that our operational experts, together with the company's management team, will ensure that the future stand-alone business can capitalise on the opportunities to expand its leading position in the European market.”

“AURELIUS has a strong track-record in completing successful carve-outs and developing consumer businesses of well-known household brand names. We are convinced that Panasonic Consumer Energy is well positioned for commercial success with its diversified customer base and pan-European sales network. We also view Panasonic Consumer Energy as a sustainability leader in its field. This is evidenced by the success of eneloop, one of the preeminent brands of rechargeable batteries, and by the recent realisation of a zero CO-2 emissions footprint at the Belgian production site.”

Panasonic Corporation has found in AURELIUS a stable and experienced partner who will use its entrepreneurial expertise to fully evolve Panasonic Consumer Energy's growth potential. In order to ensure the quality of the products, Panasonic Corporation will, over the coming years, continue to support the company technically and via a license which allows for continued production and distribution of the products under the current brand name and trademarks.

The transaction serves as a prime example of AURELIUS’s specialisation in complex carve-out processes from large global corporates. Going forward, AURELIUS will support Panasonic Consumer Energy in executing its separation from Panasonic Corporation, ensuring continuity in the company’s day-to-day operations, and establishing the business under a new brand name and as a standalone entity.

Legal Information

The information on this website is for informational purposes only. The information on this website is not, and is not intended to be, investment advice nor is it a recommendation to enter into any investment; investors should seek independent investment advice before making any investment decisions. The information on this website does not constitute an offer to buy or sell any investment product or service or to engage in any investment activity, or a solicitation of any investment product or service in any jurisdiction in which Aurelius is not permitted to provide its services or make available any investment product.

Any investment opportunities that Aurelius makes available from time to time will only be available to professional investors and will be subject to separate terms and conditions which will apply. This website and the contents herein are only available to such investors in jurisdictions where Aurelius is permitted to offer its products or services. No other person may rely on the information contained in this website.

For UK recipients

This website has been communicated by Aurelius Investment Advisory Limited (“Aurelius”), an authorised representative for its principal Mirabella Advisers LLP, which is authorized and regulated by the Financial Conduct Authority, FCA FRN 606792.

This website is directed at only those entities who are investment professionals with professional experience in matters relating to the contents of this website or other persons who would be classified as professional investors or eligible counterparties pursuant to the rules of the Financial Conduct Authority. In particular, this website is not available to, and may not be relied on by, any person who is a retail investor. If you are in any doubt as to whether you would be deemed to be a retail investor, please seek professional advice and refrain from accessing this website until such advice has been received.