Strategic partnership and succession solution through merger along the value chain
Joint venture contributing to decarbonization to secure the future
DZ BANK Corporate Finance exclusively advised the owner family of Zollikofer Group on the contribution of all entities of the group into a newly founded joint venture entity together with the Koehler Group.
Founded in Bad Wurzach in 1966, Zollikofer Group is a leading international supplier for the processing, trading and logistics of wood and wood products, especially sawmill by-products and bark products, recycled wood and biomass for thermal use. In addition to five operating companies with a focus on wood processing, Zollikofer Group also holds interests in three biomass power plants.
Koehler Group's core business activity lies in the development and production of high-quality specialty paper such as thermal paper, playing card board, drinks coasters, fine paper, carbonless paper, recycled paper, decor paper, wood pulp board, sublimation paper and innovative specialty paper for packaging. In Germany, Koehler employs over 2,000 people across five production sites, with three additional sites in the USA and annual revenues of c. € 770m in 2020.
The goal of the joint venture is the long-term growth in sales of raw materials on the part of the Zollikofer Group and the securing of raw material supplies for existing and further planned biomass power plants on the part of Koehler Group. In addition, the transaction supports the Koehler Group in its decarbonization strategy with respect to the commitment to produce more energy from renewable sources than is needed for the Koehler Group's paper production by 2030.
Thanks to a process organized by DZ BANK, we successfully managed to arrange the succession and strategically realign the Zollikofer Group for further growth in the coming years with a strong partner. I am very pleased to have had an experienced and flexible team of advisors at my side in this highly complex transaction.