Insolvency administrator Joachim Exner has sold the company’s business operations to the GEKA Group
The long-standing company OEKA Oehlhorn GmbH (OEKA), based in Bamberg, has a bright new future ahead of it. Insolvency administrator Joachim Exner has sold the company’s business operations to the GEKA Group (GEKA). GEKA will take over the Bamberg location and retain its employees. The acquisition marks another step for GEKA in pursuing its growth strategy.
GEKA, one of the world’s leading manufacturers of brushes, applicators and complete packaging systems for the cosmetics and pharmaceutical industries, is the new owner of OEKA, an internationally active manufacturer of plastic and metal components. The merger will strengthen the global market position of the two regional companies from Franconia.
“Our aim is to create a globally operating German champion specialised in the development and production of applicators and complete packaging systems for the cosmetics and pharmaceutical industries,” said Nikolaus Michelsen, managing director of GEKA. “At the same time, we are eager to retain going forward OEKA’s tight-knit corporate culture with its rich tradition rooted in Franconia.”
“GEKA is the perfect partner for OEKA, both in terms of product portfolio as well as international scope,” said insolvency administrator Joachim Exner, partner at the law office Dr. Beck & Partners, after the purchase agreement was signed yesterday evening. “I am especially pleased that GEKA is going to retain the approximately 220 employees and is even planning to make new hires.” The transition is scheduled for mid-July 2015, and the creditors have already consented to the sale. The parties have agreed not to disclose any information on the purchase price.
“For us, OEKA is the perfect partner to help implement our plans for global growth and expand our value-added chain,” said Amaury de Menthière, managing director of GEKA. “Above all, we will be relying on the experience of OEKA’s highly qualified employees and the production capacities of the Bamberg location. With regards to the planned growth, we intend to invest millions into the site to upgrade its technology.” GEKA also anticipates that merging the two companies and the use of a single brand will generate synergies with regard to the cost of materials.
More specifically, GEKA plans to integrate the OEKA BEAUTY and OEKA MED divisions into the GEKA Beauty and GEKA Healthcare divisions. However, the OEKA Tech division will be assigned to the recently founded GEKA company ‘OEKA Tech Automotive GmbH’. It is also planned to give the OEKA executives some greater additional responsibilities within the GEKA Group.