Manufacturer of Weck jars goes to financial investor
The word preserving has even made it into the dictionary. In the meantime, however, the company that produces the preserving jars makes most of its turnover from the food industry. However, the many crises led the manufacturer to the edge of the abyss. The savior is a financial investor. But not all employees will continue to work.
There is a buyer for the insolvent manufacturer of the well-known Weck jars. The Aurelius Group from Munich is taking over the long-established company, as insolvency administrator Thilo Braun announced after a staff meeting. The contract with the financial investor was signed on November 11. An Aurelius spokesperson also confirmed the takeover: "The signatures have been obtained, but some regulatory approvals are still missing, which we expect by the end of the year." The purchase price is said to be in the double-digit million range. Braun did not disclose the price for the company and brand rights.
Weck filed for insolvency in mid-June. The reasons cited at the time included a drop in demand and high energy prices as a result of the Russian war of aggression in Ukraine. Specifically, it concerned the parent company J. Weck GmbH und Co KG, based in the town of Wehr, and the subsidiary Weck Glaswerk GmbH. According to Braun, the two sites and the majority of jobs will be retained.
Several interested parties
Weck's administration and sales operations are located in South Baden - as is the publishing business for magazines and guidebooks. This will not be continued. An agreement must therefore now be reached with 25 of the 115 employees there, said Braun. There is a voluntary redundancy program with severance payments. The Bonn-based Glaswerk employs 260 people. Aurelius therefore wants to merge the two companies - and is now also looking for a boss for the new company. This is because the previous managing director, Eberhard Hackelsberger, is leaving the company. The great-grandson of company founder Johann Weck was the fourth generation to manage the company.
According to insolvency administrator Braun, there were around 15 serious offers for the glass manufacturer. At the end of the process, negotiations were still ongoing with three investors. According to Aurelius, the company specializes in tapping operational improvement potential. How Weck might develop in the future and whether there will be any changes to the product portfolio was initially unclear.
The traditional company Weck has been around for more than 123 years. The well-known preserving jars can be found in many cellars and pantries. With the strawberry logo, brand name and orange sealing ring, they have become a symbol for preserving food. The term "preserving" is even in the Duden dictionary. Nowadays, however, Weck does most of its business with glass packaging for the food industry - for pickles, mustard and jam, for example.
The insolvency of Weck led to considerations of takeovers and mergers, with multiple financial investors expressing interest. Eventually, the Aurelius Group from Baden-Württemberg secured the takeover of the company, aiming to merge it with their existing operations.
Source: www.ntv.de
