Mutares Acquires Palmia Oy
Posted on 02/14/2023
Munich-based Mutares SE & Co. KGaA is a holding company. On February 8, 2023, Mutares completed the acquisition of Palmia Oy from the City of Helsinki. Palmia Oy was incorporated by the City of Helsinki in 2015 and is a provider of food, real estate, cleaning and security services in 12 municipalities in Southern Finland. The company generates revenues of approximately €120 million and currently employs about 2,400 people.
Peugeot Motocycles
On February 1, 2023, Mutares completed the acquisition of 50% equity and a controlling stake of 80% in Peugeot Motocycles (PMTC) from Mahindra & Mahindra. Mahindra & Mahindra will remain a co-shareholder to support new product launches. Peugeot Motocycles designs and manufactures two-and three-wheelers, which are distributed through 3,000 points of sale by subsidiaries, importers, and dealers in France and internationally, across three continents. Headquartered in Mandeure, France, the company generates revenues of approximately €140 million and has its own manufacturing facility in Mandeure, a joint venture with JNQQ (Jinan Qingqi Motorcycle Co., Ltd.) in China, as well as manufacturing partnerships with several large Asian players, including THACO in Vietnam.
In October 2014, Mahindra & Mahindra signed a deal to acquire a 51% stake in Peugeot Motocycles for €28 million.