Masterplast acquired sole ownership of its German factory

On the 20th of October 2021, in Sárszentmihály, Masterplast successfully closed its German acquisition by signing the business purchase agreement, resulting in the subsidiary becoming 100% owned by the company. The transaction took place earlier than initially planned and the participants modified the terms of the original call option scheduled for 2023 to more favourable terms for Masterplast. The company finances the transaction from funds within the Bond Funding for Growth Scheme framework. 

Along with the closure of the acquisition, the parties entered into a new long-term strategic business development agreement. According to this, Hartmut Layer’s indirectly owned BWK group agrees to take on Masterplast’s building material product distribution through its existing Western European customer network in Germany, France, Switzerland, and Austria. This way, Masterplast can access markets on a broader range and volume. The major expansion is expected to increase product demand, which will be covered by the company’s free manufacturing capacity at its plant. The company will inform its shareholders about the results of the cooperation along with the updated strategy at its investors event held in January 2022.

„It is excellent for us to finally have 100% ownership of one of our most successful factories. From now on, we can make easier decisions about innovations and further developments. We have specific concepts about the investemnts of the German partner in healthcare and construction. With our partner we also agreed on beneficial and forward-looking cooperation involving distribution with which we can significantly strengthen our position on the prominent Western European market. We expect great results from this long-term strategic partnership by next year. – said Dávid Tibor, the CEO of Masterplast.