DZ Equity acquires former Salamander brand
Private equity company DZ Equity Partner GmbH is to acquire parts of German manufacturer and distributor of shoe- and leather-care products and accessories, including insoles and shoe laces, Melvo GmbH.
Based in Ludwigsburg, the company can trace its roots back to 1920 when German footwear manufacturer Salamander began producing and selling shoe-care products under the brand name, which was spun-off as Melvo GmbH in 1998 and managed as a subsidiary of Salamander AG until the end of 2003, when it was taken over by an investment firm.
Commenting on the company’s new deal with DZ Equity, chairman of Melvo’s advisory board Norbert Holzer said: “In the future we shall push ahead with the expansion of our business in Eastern Europe and enter further international markets. With DZ Equity Partner we have found a partner that has responded to our needs in a professional and entrepreneurial manner.”
The company, which reported sales in excess of €36 million in 2006, sells its products around the world under the Salamander, Woly and Coxy brand names.
