Spanish Takeover: Fit GmbH Switches Hands to BlueSun Group
The end of an era approaches - Cleaning product manufacturers ready for acquisition
Say goodbye to Fit GmbH's independence, as the renowned German household cleaner and consumer goods manufacturer has a new owner — the Spanish BlueSun Group. No details on the purchase price have been disclosed by either party, but the Fit GmbH will remain an independent entity within the BlueSun Group, keeping their production site near Zittau, Saxony.
With this acquisition, Fit GmbH faces exciting opportunities for expansion, particularly in Southern Europe, France, and the Benelux countries. Company CEO Dr. Wolfgang Groß has been on the hunt for a buyer for over a year, and the deal is expected to finalize by the end of August. A new managing director will step up to the plate by then.
Last year, Fit GmbH reported earnings of approximately €377 million with around 290 employees. Meanwhile, BlueSun Group generated revenue of around €300 million employing approximately 500 people. Dr. Wolfgang Groß first purchased the company from the Treuhandanstalt back in 1993. Before reunification, Fit dishwasher detergent was a common household item in East Germany, but production declined significantly in the late 80s and early 90s, dropping from 50,000 to 9,000 tonnes, and leaving only 60 employees at the Hirschfelde plant near Zittau.
Legal Advisor: Hogan Lovells
Dr. Wolfgang Groß enlisted the help of Hogan Lovells, a global law firm, in facilitating the sale of all his Fit GmbH shares to the BlueSun Group.
Expansion Potential
The union between Fit GmbH and the BlueSun Group brings both operational and market expansion opportunities. The expected synergies will likely result in increased efficiency, faster innovation implementation, and a broader consumer base. With BlueSun's existing distribution networks and brand recognition, Fit GmbH can storm new markets and solidify its position in the dynamic household cleaner industry.
[1] Hogan Lovells (2021, August). Case Study: Fit GmbH Acquisition by BlueSun Group. Hogan Lovells.
[2] Reuters (2021, August). Fit GmbH Sold to Spanish BlueSun Group. Reuters.
The acquisition of Fit GmbH by the BlueSun Group, a significant player in the European industry, is expected to allow for further expansion of Fit GmbH's employment policy, particularly in Southern Europe, France, and the Benelux countries. With the aid of Hogan Lovells, a global law firm, the sale of Fit GmbH's shares was successfully facilitated, opening new opportunities for collaboration in manufacturing and finance to strengthen its position in the household cleaner industry. This union between Fit GmbH and the BlueSun Group posits complementary benefits, including increased operational efficiency, faster innovation implementation, and a broader consumer base, aided by BlueSun's existing distribution networks and brand recognition.
