Not all businesses stay
The manufacturer of Weck glasses goes to a financial investor
November 23, 2023, 7:21 p.m
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The word Einwecken made it into the Duden. The company that produces the preserving jars now makes most of its sales from the food industry. However, the many crises led the manufacturer to the edge of the abyss. Savior is a financial investor. But things don’t continue for all employees.
There is a buyer for the insolvent manufacturer of the well-known Weck glasses. The Aurelius Group from Munich is taking over the traditional company, as insolvency administrator Thilo Braun announced after a staff meeting. The contract with the financial investor was signed on November 11th. An Aurelius spokesman also confirmed the takeover: “The signatures have been completed, but some regulatory approvals are still missing, which we expect by the end of the year.” The purchase price was in the double-digit million range. Braun did not provide any information about the price for the company and trademark rights.
Weck filed for bankruptcy in mid-June. The reasons cited at the time included decreased demand and high energy prices as a result of Russia’s war of aggression on Ukraine. Specifically, it was about the parent company J. Weck GmbH and Co. KG, based in the city of Wehr, and the subsidiary Weck Glaswerk GmbH. According to Braun, the two locations and a large proportion of the jobs will be retained.
Several interested parties
Weck’s administration and sales are located in South Baden – and so far the publishing business for magazines and guides is also located. This will not be continued. An agreement must now be found with 25 of the 115 employees there, said Braun. There is a volunteer program with severance pay. 260 people work at the glassworks based in Bonn. Aurelius therefore wants to merge the two companies – and is now looking for a boss for the new company. Because the previous managing director Eberhard Hackelsberger is leaving the company. The great-grandson of company founder Johann Weck was the fourth generation to run the company.
According to insolvency administrator Braun, there were around 15 serious offers for the glass manufacturer. At the end of the process, negotiations were held with three investors. According to its own information, Aurelius is a specialist in developing operational improvement potential. It was initially unclear how Weck might develop in the future and whether there would be changes to the product portfolio.
The traditional company Weck has been around for more than 123 years. The well-known preserving jars can be found in many cellars and pantries. With the strawberry logo, brand name and orange sealing ring, they have become a symbol for preserving food. The term “Einwecken” is even in the Duden. Nowadays, however, Weck does a large part of its business with glass packaging for the food industry – for example for pickles, mustard and jam.