German bakery equipment supplier Fortuna has been acquired out of insolvency by the Kőnig Group.
Fortuna, which was founded in 1887 and is described by Kőnig as one of the oldest manufacturers of bakery machines in the world, filed for bankruptcy in October 2018.
Kőnig said it wanted to “preserve and expand” the wealth of experience at Fortuna.
"The know-how at Fortuna is enormous,” explained Kőnig CEO Wolfgang Staufer. "We want to secure the future of this traditional company and its employees.”
Newly formed business Fortuna Maschinen GmbH, part of the Kőnig Group, has acquired all Fortuna assets, trademarks, patents, and has taken on its 90 staff, including 17 apprentices. Kőnig and Fortuna will operate their brands independently.
Kőnig Group, which is based in Austria, is represented in the UK by EPP.