Aurelius to buy Panasonic Consumer Energy

Aurelius has agreed to acquire Panasonic’s European consumer battery business units from Panasonic Europe. No financial terms were disclosed. Panasonic Consumer Energy is a producer of consumer batteries in the European market.

PRESS RELEASE

Munich (Germany) / Osaka (Japan), March 17, 2021 – AURELIUS today announces that it has agreed to acquire all shares of Panasonic’s European Consumer Battery Business Units (“Panasonic Consumer Energy”) from Panasonic Europe B.V. (“Panasonic Europe”). From its European sales headquarters in Zellik Belgium, Panasonic Consumer Energy operates two manufacturing facilities, one located in Belgium and one in Poland. Across its locations Panasonic Consumer Energy today employs around 900 people and generated revenue of approx. EUR 230 million in 2019.

Panasonic Consumer Energy is one of the leading producers in the European consumer batteries market and has a long-standing history of high-quality manufacturing and distribution in the European market dating back to 1970. Its key products include alkaline and zinc carbon batteries as well as both rechargeable Ni-MH batteries and specialty batteries.

The transaction is executed by AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) and will be funded jointly with co-investing other AURELIUS entities. The financial terms of the deal are undisclosed. The transaction is subject to approval by the competent competition authorities and is expected to close in the second quarter of 2021.
Commenting on the transaction, Gilles van Kooten, Managing Director AURELIUS Benelux, said: “I welcome Panasonic Consumer Energy to AURELIUS and look forward to supporting the management team in the next phase of our joint journey. We are confident that our operational experts, together with the company’s management team, will ensure that the future stand-alone business can capitalise on the opportunities to expand its leading position in the European market.”

“AURELIUS has a strong track-record in completing successful carve-outs and developing consumer businesses of well-known household brand names. We are convinced that Panasonic Consumer Energy is well positioned for commercial success with its diversified customer base and pan-European sales network. We also view Panasonic Consumer Energy as a sustainability leader in its field. This is evidenced by the success of eneloop, one of the preeminent brands of rechargeable batteries, and by the recent realisation of a zero CO-2 emissions footprint at the Belgian production site.”

Panasonic Corporation has found in AURELIUS a stable and experienced partner who will use its entrepreneurial expertise to fully evolve Panasonic Consumer Energy’s growth potential. In order to ensure the quality of the products, Panasonic Corporation will, over the coming years, continue to support the company technically and via a licence which allows for continued production and distribution of the products under the current brand name and trademarks. The transaction serves as a prime example of AURELIUS’s specialisation in complex carve-out processes from large global corporates. Going forward, AURELIUS will support Panasonic Consumer Energy in executing its separation from Panasonic Corporation, ensuring continuity in the company’s day-to-day operations, and establishing the business under a new brand name and as a standalone entity.

ABOUT AURELIUS
AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid and Amsterdam. Since it was founded in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager.

AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, ticker symbol: AR4) is the listed entity within AURELIUS Group and focuses on investing in mid-market corporate carve-outs and platform build-ups in a broad range of industries. With a team of approximately 100 in-house operations experts, AURELIUS actively supports its portfolio companies in their long-term development. AURELIUS Equity Opportunities currently has 27 portfolio companies located across Europe which employ around 12,000 people and generate annual revenues of approx. EUR 3.4 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges.

AURELIUS Group also operates in the areas of growth capital, real estate opportunities and debt. AURELIUS Growth Investments invests in leveraged buyouts usually in succession or corporate spin-off situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to small and mid-market firms across Europe.
With its group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support for refugees on their way towards a better life.
To find out more, visit www.aureliusinvest.de.