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Stockmeier to acquire insolvent distributor Kruse

11:38 AM MST | January 15, 2013 | Sotirios Frantzanas

Stockmeier Holding (Bielefeld, Germany), a chemical distributor, says it has made a binding offer to acquire Kruse Holding (Balve, Germany) and its subsidiaries. Kruse filed for bankruptcy on 8 January 2013. The acquisition is expected to be completed by the end of January and, as a result, the insolvency applications for the three insolvent Kruse group companies will be withdrawn. All 431 of Kruse's employees will be retained, Stockmeier says. The transaction remains subject to approval by the German authorities. Stockmeier says it has sales of about €420...

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