Catalan company Irestal acquires beer keg manufacturer Thielmann Portinox
With this acquisition, the company owned by the Boixareu family consolidates its European expansion.
BarcelonaIrestal Group, owned by the Boixareu family and dedicated to the transformation and distribution of stainless steel in the Spanish market, has acquired Thielmann Portinox, a beer keg company belonging to the Heritage B group. The production of stainless steel beer kegs is based in Granada.
In 2016, the company changed its name from Portinox SA to Thielmann Portinox Spain SA and has since operated under the Thielmann brand. Irestal has acquired 100% of the company, with its subsidiaries in France and England and a "very significant" export share, although it did not specify the price at which the transaction was closed.
Thielmann's sales are concentrated in Europe, and its main markets are the Iberian Peninsula, the United Kingdom, and France. With this transaction, the Catalan group "consolidates its value-added strategy and adds, in its large stainless steel service center – the largest in Spain – and in the production of welded stainless steel tubes, three manufacturing areas using the same material: beer kegs, tanks for the transport of all types of liquid substances, and a specific division."
"The incorporation of Thielmann into our group will allow us to take advantage of many synergies between both companies in the areas of logistics, purchasing, sales, finance, and costs," says Joaquim Boixareu, President and CEO of Irestal Group.
The family company assures that the acquisition will not entail "any substantial change" in the operations of both companies, since Thielmann will be integrated into Irestal Group, but will operate independently. Furthermore, this transaction ensures the continuity of its activities and, therefore, of the workforce.
Thielmann manufactures nearly one million stainless steel barrels and containers annually for the transportation, storage, blending, preparation, or fermentation of beverages in various formats and sizes from five to one thousand liters. It has a workforce of more than 200 people, and with the transaction already signed, its closing is pending approval from competition authorities, which is expected to take effect in a few weeks.
