P+P advised GALA-KERZEN on acquisition of Korona Candles S.A.

GALA-KERZEN, a portfolio company of Equistone Partners, has acquired the Polish company Korona Candles S.A. ("Korona"). Private investors and the management, which will reinvest in the GALA-KERZEN GROUP, sold the Korona shares. The parties have agreed to maintain confidentiality regarding the details of the transaction.

Korona is a global manufacturer of candles and supplies renowned international corporations with a broad selection of private label products. The company was founded in 1992 and is based in Wieluń, Poland; it also has a production facility in Dublin, Virginia, USA. Approximately 1000 employees generated a turnover of over EUR 100 million.

With its third acquisition in just a few months, following the acquisitions of Ramesh Flowers in India and Berlin-based JuwelKerze, GALA-KERZEN is completing its selection and expanding its international presence. The company has thereby developed into a leading global candle manufacturer. In 2016, Equistone invested in GALA-KERZEN in the context of a succession settlement.

Equistone Partners Europe is one of the leading European private equity investors with a team of more than 35 investment experts in six offices in Germany, Switzerland, France and Great Britain. Equistone primarily invests in established mid-sized companies.

P+P Pöllath + Partners advised GALA-KERZEN on the German portion of the transaction with the following team:

• Dr. Andrea von Drygalski (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 Burgić (associate, M&A/PE, Munich)