Mutares-backed keeeper completed the acquisition of the German napkin business of Metsa Tissue.

Mutares-backed keeeper, one of the largest European suppliers of innovative and high-quality plastic household products, completed the acquisition of the German napkin business of Metsa Tissue, a Finnish company headquartered in Helsinki that manufactures tissue papers and greaseproof papers. Financial terms were not disclosed. "The napkin business has not reached profitability targets lately and napkins are not part of our core offering anymore. Thus we have explored all the alternatives for the business to find the best solution for the Stotzheim mill and its personnel. When completed, the divestment will support Metsä Tissue’s strategy and enables us to focus on our core business, producing high-quality tissue and greaseproof papers close to our customers," Esa Kaikkonen, Metsä Tissue CEO.