COLOGNE PRESS RELEASE

Cologne, a traditional location for perfume & fragrance manufacturing, is facing changes. AIS and Maynards Europe appointed for asset disposal and recovery.

Cologne, Germany

Global cosmetic, skin, fragrance, and hair product manufacturer of popular brands such as Hugo Boss and Bruno Banani have, as part of their global restructuring operations, decided to close their Cologne, Germany fragrance manufacturing facility.

The German facility closed in July 2022.

In Cologne-Ehrenfeld, the last bottles of fragrance were packed and sealed on 29th July. Fans of the exclusive cosmetic brands of Kim Kardashian and Kylie Jenner won’t go short, as production of these products is reported to be moved to alternative manufacturing sites in Spain and France[2].

Until 1993, the Cologne-Ehrenfeld site was run by the traditional Muelhens Family and produced perfumes and fragrances like the famous “4711” before being taken over by Wella AG as part of the Cosmopolitan Cosmetics GmbH and later by Procter & Gamble.

To facilitate the redevelopment of the former production site, the current owner appointed the German recovery specialist Maynards Europe and the American liquidation expert Aaron Industrial Solutions to clear the contents of the facility for reuse and recycling. As part of the clearance process, a public online auction will be held in September 14th and 15th for the redundant manufacturing assets.

Daniel Kröger, CEO of Maynards Europe and Peder Grimstrup, Managing Director, AIS jointly stated: “We are proud to have earned the trust of the facility owners and to be appointed to dispose of the surplus manufacturing equipment. We have a responsibility towards society and the environment, and the closure of the facility will be carried out under the premise of sustainability. Our goal is for the redundant equipment to be made available for reuse as much as possible. Together as a team, the current owners have chosen two dedicated experts in the field of global asset disposal and recovery.”

[1] https://www.handelsblatt.com/unternehmen/handel-konsumgueter/sue-youcef-nabi-im-interview-coty-chefin-kim-und-kylie-helfen-uns-aus-der-krise/27124650.html

[2] https://www.handelsblatt.com/unternehmen/handel-konsumgueter/hugo-boss-und-bruno-banani-coty-schliesst-einziges-parfuemwerk-in-deutschland/26856932.html