P+P advises GALA-KERZEN on acquisition of Ramesh Flowers
GALA-KERZEN has acquired a majority stake in Ramesh Flowers, an Indian manufacturer and exporter of potpourri, air fresheners, incense sticks, candles and decorative items. The parties have agreed to maintain confidentiality regarding the details of the transaction. The acquisition is subject to the approval of the responsible antitrust authorities.
Ramesh Flowers was founded in 1982 in Tuticorin (India) by Mahendra Raj Singhwi, who still manages the company today. The company employs a total of almost 3,000 employees in its production facilities in India and Temecula (California, USA). Ramesh Flowers supplies international retail chains through its long-term wholesale partners in its target markets in Europe and the US. Over 43% of the export share is allotted solely to the American market. Through this acquisition, GALA-KERZEN expands its product range to include high-quality fragrance and decorative products for distribution through its commercial partners and also taps into new target markets outside of Europe.
This is the first acquisition for GALA-KERZEN since joined by funds managed by Equistone Partners in 2016. The GALA-KERZEN GROUP is one of the largest candle manufacturers with two production facilities in Germany and Hungary.
Equistone Partners Europe is one of the leading European private equity firms with a team of more than 35 investment specialists in six offices in Germany, Switzerland, France and Great Britain. Equistone primarily invests in established medium-sized companies.
P+P Pöllath + Partners advised GALA-KERZEN on the German portion of the transaction with the following team: