GERMANY: Private equity firm buys Hessnatur eco-fashion
Swiss private equity firm Capvis has acquired organic and sustainable apparel specialist Hessnatur from Primondo Specialty Group GmbH, and says it plans to grow the business to take advantage of rising demand for "responsible consumption."
Hessnatur, which is based in Butzbach, near Frankfurt am Main in Germany, has more than 330 employees and distributes its products through catalogues, three retail stores and an online shop. It has 1m customers in Germany, Austria, Switzerland and the US, and achieved a turnover of EUR73m in 2011.
"As a market leader in its segment, Hessnatur fits very well into the Capvis portfolio," says Daniel Flaig, a partner at Capvis Equity Partners AG.
"We are convinced that more and more consumers want to consume responsibly. We look forward to growing the business whilst preserving its very specific identity and values.
"This will give Hessnatur the necessary security and stability to take the next steps in its successful corporate history."
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