(CercleFinance.com) – Mutares SE & Co. announces that it has entered into exclusive negotiations with Nania Développement to acquire 80% of TeamTex Management and its subsidiaries (‘TeamTex’) from Nania Développement and Crédit Mutuel Equity.
TeamTex manufactures children’s car seats (and accessories) using its plastic injection molding and blow molding capabilities.
Based in France, in Charvieu-Chavagneux, TeamTex employs nearly 250 employees, with a manufacturing capacity of more than 17,000 units per day. Presented as a leader in its sector, TeamTex generated a turnover of nearly 80 million euros in 2022.
Expected in the 4th quarter of 2023, this acquisition would strengthen Mutares’ Retail & Food segment. Its finalization still depends on final agreements between the parties.
‘ I’m convinced that [TeamTex] has strong growth potential thanks to its strong position in the French market and the development of new products that comply with new safety standards and directives’, commented Johannes Laumann, CIO of Mutares.
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