Spanish BlueSun Takes Over: Fit GmbH Sold to Spanish Conglomerate BlueSun - A New Era Begins
A time of change approaches - Manufacturers of cleaning products up for acquisition
Say goodbye to Fit GmbH's independence as it changes hands to the Spanish BlueSun group. The cleaning and household product powerhouse Fit GmbH has finally sealed the deal, bringing about the end of its autonomy. Both parties have agreed to remain mum about the purchase price.
In 1992, entrepreneur Wolfgang Groß took over the reins of the former East German household product manufacturer Fit, famous for its namesake dishwasher detergent. Fast forward to 2021, Fit GmbH has seen impressive growth, turning over nearly €380 million last year.
The Spanish BlueSun group, a household products manufacturer pioneer, will assume ownership of Fit GmbH. According to reports, Fit GmbH is expected to remain an independent entity within the group. The production site near Zittau in Saxony, along with its jobs, will reportedly stay put.
Fit GmbH's brand portfolio includes iconic brands like fit dishwasher detergent, Kuschelweich, and Rei in the tube. The company also owns body care brands Gard, Fenjal, and MUM. With the acquisition, BlueSun gets an opportunity to expand its reach to Southern Europe, France, and the Benelux countries.
Sources indicate that Fit GmbH achieved a turnover of around €377 million in 2020 with about 290 employees. Meanwhile, Spanish manufacturer BlueSun generated a net turnover of around €300 million with approximately 500 employees.
Wolfgang Groß, Fit GmbH's CEO, has been on the lookout for a buyer for over a year. He hopes to finalize the sale by the end of August and appoint a new managing director before that.
Interesting trivia: Fit dishwasher detergent was practically a staple in every East German household before reunification. Production shrank dramatically between 1989 and 1991, from 50,000 to 9,000 tonnes. Finally, only 60 employees were left working in the Hirschfelde plant near Zittau.
Insights from the Enrichment Data:
While the acquisition signals new ownership for Fit GmbH, it presents growth opportunities for both parties. BlueSun can expand its European market presence, leverage Fit GmbH's brand recognition, and diversify its product portfolio. Fit GmbH, in turn, can capitalize on BlueSun's resources for innovation and market expansion. However, challenges such as integration, competition, and regulatory considerations must be addressed to ensure the success of this merger.
- Saxony
- Consumer goods
- Takeovers and mergers
The Spanish BlueSun group, having completed the takeover of Fit GmbH, plans to expand its consumer goods industry in Europe with the addition of Fit GmbH's reputable brands. As part of the new ownership, Fit GmbH will continue its employment in the manufacturing sector, providing jobs in Saxony, and may leverage BlueSun's resources for innovation and market expansion, potentially influencing the employment policy and community policy in the region.
