Private investment firm acquires German meat casings manufacturer
With operations across nine countries, Kalle produces more than 850 million meters of casings for a wide range of meat, poultry and other protein products.
New York private investment firm Clayton, Dubilier & Rice (CD&R) announced plans to acquire Kalle GmbH, a Germany-based manufacturer of artificial casings for the meat processing industry. The terms of the transaction were not disclosed.
With operations across nine countries, the company produces more than 850 million meters of casings for a wide range of meat, poultry and other protein products.
"Our investment model is based on helping businesses grow profitably. We have been following Kalle's progress for many years, and look forward to working with Kalle's talented management and employees to continue its strong sales and profit growth and to make the company an even more valuable enterprise over the long term,” says Sonja Terraneo, CD&R partner.
CD&R partner Vindi Banga, former member of the Unilever executive board, will assume the role of chairman of Kalle at the close of the transaction, which is expected to be around the end of the first half of 2016.
"Kalle is a proven innovator with a highly differentiated offering to customers, which improves product quality and production processes. This is particularly apparent in the value-added casings segment where Kalle pioneered the category and is the global leader today," adds Banga. "We believe Kalle is well-positioned to capitalize on its growth momentum, strong product mix and exceptional R&D capabilities to further penetrate the global market."
"Kalle is a resilient market leader and growing business with a strong German heritage and excellent customer exposure globally, particularly in the growing U.S. market," adds CD&R partner David Novak. "It is also a great fit with CD&R's focus on both consumer and industrial businesses in Europe, which have global reach, as well as our deep industry experience in foodservice."