Kimberly-Clark (K-C) has concluded the final handover of its Reisholz tissue manufacturing mill and its German rolled tissue brands to Palero capital.
The move includes Hakle(r) Dry Toilet Tissue, Dick&Durstig and Servus, to Palero Invest, a private equity fund advised by Palero Capital.
K-C will continue to use the Hakle(r) brand name for its moist toilet tissue brand in Germany for a period of time, after which the product will switch to another brand name.
It will also continue to use the Hakle(r) brand across both rolled and moist toilet tissue in Austria and Switzerland.
Oliver Vogel, country manager, K-C consumer Germany, said: “Germany continues to be a key market for Kimberly-Clark.
“We enjoy market-leading positions with our Kleenex(r), DryNites(r), Little Swimmers(r), Camelia(r) and Hakle(r) Moist brands.
“The sale of the mill was a strategic divestment. I believe selling Reisholz and the associated rolled tissue brands in Germany was the right decision for the future of the mill and people who work there, who continued to demonstrate their commitment and dedication throughout the handover period”
The sale was initially announced in November 2012.