Czewo Full Filling Service GmbH
 
Czewo is a leading European full-service contract filling and packaging provider for the cosmetics industry, widely recognized for reliability, quality and cost leadership. As of 2008, Czewo employs a staff of more than 600 at its three production facilities in Germany.  

Argantis as partner
  Czewo’s well-established market position as a contract filling provider for major branded product companies within the steadily growing cosmetics industry together with the strongly growing trend to outsourcing were key criteria for the initial investment in May 2005. In the following years while Argantis was a shareholder and partner, annual revenues rose from 105 to 150 million euros, and EBITDA was able to be increased by almost 50%. Management was able to achieve this strong growth in revenues and profitability through a close and active partnership with Argantis.
Key measures included the following:

  • Strengthening of the senior management level in terms of both breadth and depth. In addition to the new CEO who was appointed within several months of the initial investment, managing directors were appointed with specific responsibility for production and for supply chain management.
  • Through an optimization program which was initiated and led by Argantis during 2006, significant cost savings were able to be realized, and production and logistics processes were optimized.
  • Once the needed organizational and cost structure for growth was created, a “key account” sales model was established under centralized management in order to better focus on customer needs and optimally take advantage of market opportunities.
  • In addition to Czewo’s primary market segment in cosmetics and the smaller established segments for technical and household products, a new customer segment was successfully created within the food industry.
  • The company’s advisory board was further expanded. In addition to company founder and original owner Joachim Czech, and Fritz Graf von der Schulenburg and Dr. Christian Diekmann from Argantis, two highly respected figures within the industry were appointed to the board:.Dr. Wolfgang Wünsche, former CEO of Beiersdorff Switzerland, and Christoph Häusler, head of cosmetics production for Reckitt Benckiser. Their participation enabled significant further improvements in the company’s strategic direction.

With its acquisition by ColepCCL, the largest provider of contract packaging services in Europe, Czewo found the ideal parent company to strengthen its market position in a consolidating industry. The new corporate group has the critical mass to be a reliable partner for its major international customers as they seek to implement consistent pan-European outsourcing strategies.

  • Investment date: May 2005

  • Exit date: December 2008

  • Structure of exit: Trade sale


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Argantis GmbH • Martinstr. 16-20 • 50667 Köln
Tel 0221-2 80 64-0 • Fax 0221-2 80 64-10
Managing director: Robert Stein
argantis