Marktlink advises on two Dutch-German mid-market transactions

Marktlink’s deal team has closed two deal mandates in Germany, bringing two German companies together with Netherlands-based acquirers.

The first deal saw PS. food & lifestyle, a Dutch company that provides low-carb food such as crackers, wraps and pasta, acquire Dr. Rimpler, a German cosmetics brand. Marktlink was engaged by the management of PS. food & lifestyle, who had the ambition of partnering with a strong distribution partner in the larger German market.

While Dr. Rimpler focuses on an entirely different range of products – skin care and sun skin care products – the two companies believe to have found a “perfect match”, said Stephan Hinneman, the chief executive of PS. food & lifestyle.

“We provide much of our services to consumers through independent coaches. In general, these coaches are dieticians or work in the sports or beauty sectors. With that in mind, we set out to find a suitable partner with a strong presence in the sports, beauty and lifestyle sectors.”

Assisted by Marktlink’s German team, PS. food & lifestyle met with multiple candidates in Germany, with Dr. Rimpler emerging as the ideal partner.

With the joining of forces, PS. food & lifestyle will be able to expose its products through the relations network of Dr. Rimpler, which spans thousands of beauty salons across the country. Meanwhile, for Dr. Rimpler, the company can offer its customer base a broader product range and lift its turnover per customer visit.

Meanwhile, for Bocorp, Marktlink’s remit was clear: find a German business to acquire. The Dutch company specialises in the production and distribution of consumer items for the campsite, leisure, outdoor and garden segments, and aims to enter the German market as part of the next phase of its growth ambition (the group is backed by Belgian private equity firm KeBeK).

The M&A firm created a longlist of potential targets, and worked with Bocorp’s management on trimming down this list to a select group of top parties. Ultimately, Gimex came out on top, and in February a deal was announced.

Founded in 1989, Gimex manufactures and sells high-quality melamine tableware, lightweight glassware, cutlery, cookware and accessories for the camping and recreation market as well as the business to business segment. Gimex sells its products in more than 30 countries worldwide.

Richard Schutte, the CEO of Bocorp, said: “The product range of Gimex is very complementary to Van Assendelft [one of the two companies under the Bocorp group]. I am convinced that this new strategic acquisition will be a valuable support in the further successful expansion of the company.”

Commenting on the collaboration with Marktlink, Schutte stated: “It is a pleasant experience to collaborate with international M&A specialists who not only know the local market through and through, but also take cultural differences into account.”