DLA Piper has advised Flacks Group on the acquisition of the industrial packaging business
The company was acquired by Industrial European Wood Products Holding GmbH, a subsidiary of Flacks Group. The relevant documents were signed on 16 January. The sale also includes subsidiaries in Poland and Spain. The parties agreed to keep the purchase price confidential. The Flacks Group specializes in the acquisition and the development of small and medium-sized enterprises. Through the introduction of expansion capital and additional management expertise, investment companies are repositioned in the market and set up for sustainable growth in close coordination with employees and customers. The Holzindustrie Fürst zu Fürstenberg GmbH & Co. KG has been present at Hüfingen for almost 100 years and is a leading manufacturer of wood packaging for the automotive industry, machine- and plant construction. The DLA Piper team was led by partner Dr Dietmar Schulz (Restructuring) and consisted of partner Claus Jochimsen-von Gfug, senior associates Dr Tim Zinowsky (both Tax, all Munich) and Dr Jan Philipp Meier (Corporate, Hamburg) as well as associate Katharina Alessandra Plass (Restructuring, Munich). In Poland, the team was supported by counsels Anna Wietrzynska-Ciolkowska (Corporate), Bartosz Matusik (Tax), Michal Pietuszko (Real Estate) and associate Rafal Burda (Corporate).