Aurelius has acquired all shares of Panasonic’s European Consumer Battery Business Units (Panasonic Consumer Energy) from 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 approximately EUR230 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 and will be funded jointly with co-investing other Aurelius entities. The financial terms of the deal have not yet been disclosed. The transaction is subject to approval by the competent competition authorities and is expected to close in the second quarter of 2021.
Gilles van Kooten, Managing Director Aurelius Benelux, says: “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 CO2 emissions footprint at the Belgian production site.”
