Canning specialist sells: "Who says that in an Appel

The canned fish specialist Appel Feinkost GmbH from Cuxhaven has been sold.

On January 1st, the Frankfurt-based asset manager Sustainable & Invest GmbH took over the 140-year-old company with 330 employees.

"There will be no job cuts," assures Peter Memminger, founder of Sustainable & Invest: "We want to secure and expand Germany as a production location." He is convinced that you can make a profit with Appel, says Memminger in an interview with the FAZ and points to it where the journey could go: "Who says that there always has to be herring in an Apple can?

And does herring always have to be in a can?” The production range will change, and fish substitutes are also being considered in the future.

Susanne Preuss

Business correspondent in Hamburg.

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In the future, Appel will no longer produce primarily for discounters, unlike in the past.

Retailers also have to adjust to the fact that Appel is no longer as defensive in price negotiations as it used to be, says Memminger.

He has already hired two top managers, both with experience in the fish industry: "They know how it works.

And both have already shot companies in a comparable situation.”

“The energy costs are catching up with us”

The starting point for a success story is not easy.

Appel has been operating at a loss for years, as can be seen from the Federal Gazette.

Specific figures are not given there because Heiristo AG, as the previous owner, has assumed the loss.

Memminger confirms that the last two years have already resulted in losses, and this year everything will be even worse: "The energy costs are catching up with us."

In order to contain the costs, Appel has to drive automation and needs a new production concept and more and better machines.

It was agreed in the purchase agreement that Heiristo would participate in these investments on a percentage basis.

Heiristo, a company located south of Osnabrück with sales in the billions, is known for the Stockmeyer brand for canned sausages, but is also one of the largest manufacturers of pet food.