- Acquisition in England in spite of Brexit
- Heimerle + Meule GmbH take over the British family enterprise Weston Beamor
- Expansion of the supply business for the jewellery industry
Lübeck, 22 January 2018 – Right at the beginning of the year, the Lübeck-based conglomerate Possehl have further strengthened their Precious Metals Processing business segment by acquiring yet another company. The Group affiliate Heimerle + Meule GmbH based in Pforzheim have aquired all of the shares of the Birmingham-based company Weston Beamor Holdings Limited. Located in the immediate vicinity of Weston Beamor, Cookson Precious Metals Limited already represent Possehl on the English precious metals market.
Weston Beamor was founded in 1947 and has been family-owned ever since. Operating under their own company name as well as under their secondary brand name “Domino”, the enterprise with an annual turnover of more than 30 million Euros and 180 employees is a major supplier for the jewellery industry in England on the one hand, and is present on the market with own exclusive jewellery brands on the other. In addition, their subsidiary company Gecko Trading Limited sells costume jewellery under various well-known brand names.
“We are convinced that acquiring Weston Beamor not only ideally complements our existing activities in the precious metals business but that this acquisition is also the basis for further diversification in this particular business segment”, states Dr Joachim Brenk, Chairman of the Board at Possehl. “The geographical proximity to Cookson Precious Metals combined with already established business relations between the two companies offers both businesses a wide range of opportunities for growth and development on the local market. We do not expect Brexit to have a negative impact on our business.“
Operating under the leadership of Heimerle + Meule GmbH, Possehl’s Precious Metals Processing division is represented by affiliates and subsidiaries in seven European countries. With annual sales well exceeding 1 billion Euros and a workforce of around 800, the Heimerle + Meule Group is a leading player in the field of precious metals recycling as well as a leading manufacturer of both semi-finished and investment products in Europe.
The anticyclical precious metals business is an important mainstay of the Possehl Group as it ensures great stability of the entire group of companies, especially in times of crisis.
The Possehl Group, operating worldwide under the leadership of Management-Holding L. Possehl & Co. mbH, is a diversified corporate group currently comprising nine decentrally organised business segments that are economically independent of each other. In addition to L. Possehl & Co. mbH, the Possehl Group comprises more than 170 subsidiaries in more than 30 different countries. In the financial year 2016, the Group generated revenues of 3.9 billion Euros. Possehl currently employs around 12,500 people worldwide.
The company was founded in 1847 by Ludwig Possehl as a local hardware store in Lübeck. Since 1919, the non-profit Possehl Foundation has been the sole shareholder. This corporate structure enables the Possehl Group to operate independently and provides the basis for long-term entrepreneurial decisions.